,Tableofcontents
c c
1. Introduction
2. Supply and Demand
c c
3. Applying the Supply-and-Demand Model
c c c
4. Consumer Choice c
5. Applying Consumer Theory
c c
6. Firms and Production
c c
7. Costs
8. Competitive Firms and Markets c c c
9. Applying the Competitive Model
c c c
10. General Equilibrium and Economic Welfare c c c c
11. Monopoly
12. Pricing and Advertising c c
13. Oligopoly and Monopolistic Competition c c c
14. Game Theory c
15. Factor Markets c
16. Interest Rates, Investments, and Capital Markets
c c c c c
17. Uncertainty
18. Externalities, Open-Access, and Public Goods c c c c
19. Asymmetric Information c
20. Contracts and Moral Hazards c c c
,Chapter 1 c Introduction
1.1 Microeconomics: TheAllocation of ScarceResources c c c c c
1) Microeconomics studies the allocation of c c c c
A) decision makers. c
B) scarce resources. c
C) models.
D) unlimited resources. c
ANSWER: B
c
Section: The Allocation of Scarce Resources
c c c c
Question Status:
c c Old
AACSB: Analytic thinking c
2) Microeconomics is often called c c c
A) price theory.
c
B) decision science. c
C) scarcity.
D) resource theory. c
ANSWER: A
c
Section: The Allocation of Scarce Resources
c c c c
Question Status:
c c Old
AACSB: Analytic thinking c
3) Most microeconomic models assume that decision makers wish to
c c c c c c c c
A) make themselves as well off as possible.
c c c c c c
B) act selfishly.
c
C) make others as well off as possible.
c c c c c c
D) None of the above. c c c
ANSWER: A
c
Section: The Allocation of Scarce Resources
c c c c
Question Status:
c c Old
AACSB: Analytic thinking c
4) Society faces trade- ‑offs because of
c c c c
A) governmentregulations. c
B) profit motive. c
C) faceless bureaucrats. c
, D) scarcity.
ANSWER: D
c
Section: The Allocation of Scarce Resources
c c c c
Question Status:
c c Old
AACSB: Analytic thinking
c
c c
1. Introduction
2. Supply and Demand
c c
3. Applying the Supply-and-Demand Model
c c c
4. Consumer Choice c
5. Applying Consumer Theory
c c
6. Firms and Production
c c
7. Costs
8. Competitive Firms and Markets c c c
9. Applying the Competitive Model
c c c
10. General Equilibrium and Economic Welfare c c c c
11. Monopoly
12. Pricing and Advertising c c
13. Oligopoly and Monopolistic Competition c c c
14. Game Theory c
15. Factor Markets c
16. Interest Rates, Investments, and Capital Markets
c c c c c
17. Uncertainty
18. Externalities, Open-Access, and Public Goods c c c c
19. Asymmetric Information c
20. Contracts and Moral Hazards c c c
,Chapter 1 c Introduction
1.1 Microeconomics: TheAllocation of ScarceResources c c c c c
1) Microeconomics studies the allocation of c c c c
A) decision makers. c
B) scarce resources. c
C) models.
D) unlimited resources. c
ANSWER: B
c
Section: The Allocation of Scarce Resources
c c c c
Question Status:
c c Old
AACSB: Analytic thinking c
2) Microeconomics is often called c c c
A) price theory.
c
B) decision science. c
C) scarcity.
D) resource theory. c
ANSWER: A
c
Section: The Allocation of Scarce Resources
c c c c
Question Status:
c c Old
AACSB: Analytic thinking c
3) Most microeconomic models assume that decision makers wish to
c c c c c c c c
A) make themselves as well off as possible.
c c c c c c
B) act selfishly.
c
C) make others as well off as possible.
c c c c c c
D) None of the above. c c c
ANSWER: A
c
Section: The Allocation of Scarce Resources
c c c c
Question Status:
c c Old
AACSB: Analytic thinking c
4) Society faces trade- ‑offs because of
c c c c
A) governmentregulations. c
B) profit motive. c
C) faceless bureaucrats. c
, D) scarcity.
ANSWER: D
c
Section: The Allocation of Scarce Resources
c c c c
Question Status:
c c Old
AACSB: Analytic thinking
c
