Module 2

18問 • 7ヶ月前

問題一覧

demand to you would mean your desire to buy something, but in economic sense it is something more than a mere desire. TRUE OR FALSE

true

It is the quantity of a good or service that customers are willing and able to purchase during a specified period under a given set of economic conditions.

direct demand

Demand for a commodity refers to the quantity of the commodity which an individual household is not willing and not able to purchase per unit of time at a particular price. TRUE OR FALSE

false

According to the law of demand, the lower the price of a good, the larger the quantity consumers wish to purchase. TRUE OR FALSE

true

This means all other things being held constant- this is use in economics to rule out the possibility of other factors changing.

ceteris paribus

The prime focus of managerial economics is market demand. TRUE OR FALSE

true

What are the two models of individual demand?

d.a and b

theory of consumer behavior, it relates to the direct demand for personal consumption products. TRUE OR FALSE

true

deals with the reaction of the market demand when certain changes in price happen.

elasticity of demand

This is a tyoe of demand where products are demanded not for direct consumption but rather for their use in providing other goods and services

derived demand

What are the two effects caused by determinants in the demand curve?

a and c

It is the specific quantity of output that the producers are willing and able to make available to consumers at a particular price over a given period of time

supply

The supply of produced goods (tangibles) is usually indirect and the supply of non-produced goods (intangibles) is more direct. TRUE OR FALSE

true

In law of supply,the higher the price of a commodity, higher will be the quantity supplied and vice versa. TRUE OR FALSE

true

A surplus is created when producers supply less of a product at a given price than buyers demand. TRUE OR FALSE

false

a shortage is created when buyers demand more of a product at a given price than producers are willing to supply. TRUE OR FALSE

true

A price ceiling occurs when the price is artificially held above the equilibrium price and is not allowed to rise. TRUE OR FALSE

false

A price floor exists when the price is artificially held below the equilibrium price and is not allowed to fall. TRUE OR FALSE

false

Plumbing Arithmetic Terms 5

ユーザ名非公開 · 68問 · 13日前

Plumbing Arithmetic Terms 5

68問 • 13日前

ユーザ名非公開

Practical Problems and Experiences 4

ユーザ名非公開 · 100問 · 13日前

Practical Problems and Experiences 4

100問 • 13日前

ユーザ名非公開

(Finals) Professional issues in Information Technology Mocktest BSIT 505

Xai Alexandrei Delos Reyes · 27問 · 1ヶ月前

(Finals) Professional issues in Information Technology Mocktest BSIT 505

27問 • 1ヶ月前

Xai Alexandrei Delos Reyes

(Pre-Finals) ASIA Mocktest BSIT 505

Xai Alexandrei Delos Reyes · 44問 · 2ヶ月前

(Pre-Finals) ASIA Mocktest BSIT 505

44問 • 2ヶ月前

Xai Alexandrei Delos Reyes

BBME MOTIVATION

Desa Mae Santiago · 26問 · 3ヶ月前

BBME MOTIVATION

26問 • 3ヶ月前

Desa Mae Santiago

Other Types of Property & Casualty Insurance Quiz 90

ユーザ名非公開 · 15問 · 3ヶ月前

Other Types of Property & Casualty Insurance Quiz 90

15問 • 3ヶ月前

ユーザ名非公開

Other Types of Property & Casualty Insurance Quiz 9

ユーザ名非公開 · 15問 · 3ヶ月前

Other Types of Property & Casualty Insurance Quiz 9

15問 • 3ヶ月前

ユーザ名非公開

Other Types of Property & Casualty Insurance Quiz 5

ユーザ名非公開 · 15問 · 3ヶ月前

Other Types of Property & Casualty Insurance Quiz 5

15問 • 3ヶ月前

ユーザ名非公開

Lecture 2

Oluwole Akande · 5問 · 3ヶ月前

Lecture 2

5問 • 3ヶ月前

Oluwole Akande

LESSON 3

Geneva Pahil · 71問 · 4ヶ月前

LESSON 3

71問 • 4ヶ月前

Geneva Pahil

Midterm Exam

Ella Mae Hilot · 41問 · 4ヶ月前

Midterm Exam

41問 • 4ヶ月前

Ella Mae Hilot

Auto Insurance Quiz 4

ユーザ名非公開 · 15問 · 4ヶ月前

Auto Insurance Quiz 4

15問 • 4ヶ月前

ユーザ名非公開

Principles

Lorenzo Cokee · 9問 · 4ヶ月前

Principles

9問 • 4ヶ月前

Lorenzo Cokee

FINALS

Adrian Ramirez · 69問 · 5ヶ月前

FINALS

69問 • 5ヶ月前

Adrian Ramirez

SET 1

Angel Borres · 6回閲覧 · 150問 · 6ヶ月前

SET 1

6回閲覧 • 150問 • 6ヶ月前

Angel Borres

Final Mock (All)

ユーザ名非公開 · 300問 · 7ヶ月前

Final Mock (All)

(101-150)

(101-150)

John Marabiles · 15問 · 7ヶ月前

Grile Marketing 3

Grile Marketing 3

obli prelims review

obli prelims review

問題一覧

demand to you would mean your desire to buy something, but in economic sense it is something more than a mere desire. TRUE OR FALSE

true

It is the quantity of a good or service that customers are willing and able to purchase during a specified period under a given set of economic conditions.

direct demand

Demand for a commodity refers to the quantity of the commodity which an individual household is not willing and not able to purchase per unit of time at a particular price. TRUE OR FALSE

false

According to the law of demand, the lower the price of a good, the larger the quantity consumers wish to purchase. TRUE OR FALSE

true

This means all other things being held constant- this is use in economics to rule out the possibility of other factors changing.

ceteris paribus

The prime focus of managerial economics is market demand. TRUE OR FALSE

true

What are the two models of individual demand?

d.a and b

theory of consumer behavior, it relates to the direct demand for personal consumption products. TRUE OR FALSE

true

deals with the reaction of the market demand when certain changes in price happen.

elasticity of demand

This is a tyoe of demand where products are demanded not for direct consumption but rather for their use in providing other goods and services

derived demand

What are the two effects caused by determinants in the demand curve?

a and c

It is the specific quantity of output that the producers are willing and able to make available to consumers at a particular price over a given period of time

supply

The supply of produced goods (tangibles) is usually indirect and the supply of non-produced goods (intangibles) is more direct. TRUE OR FALSE

true

In law of supply,the higher the price of a commodity, higher will be the quantity supplied and vice versa. TRUE OR FALSE

true

A surplus is created when producers supply less of a product at a given price than buyers demand. TRUE OR FALSE

false

a shortage is created when buyers demand more of a product at a given price than producers are willing to supply. TRUE OR FALSE

true

A price ceiling occurs when the price is artificially held above the equilibrium price and is not allowed to rise. TRUE OR FALSE

false

A price floor exists when the price is artificially held below the equilibrium price and is not allowed to fall. TRUE OR FALSE

false