Introduction to Microeconomics Study guides, Class notes & Summaries

INTRODUCTION TO MICROECONOMICS E201

This document contains questions and answers for SSE 104 Homework 3 &4 . The homework covers both Aggregate Demand(AD) and Aggregate Supply (AS). It is part of the larger subject of macroeconomics The questions (homework) was administered to students of LaGuardia Community College in New York

Introduction to microeconomics (perfect competition): Questions and answers for SSE 103 Homework 6 as administered to students of LaGuardia Community College in New York

Questions and answers for SSE 103 Homework 5 on profit maximization as administered to students of LaGuardia Community College in New York

Introduction to microeconomics (SSE 103 Homework 3) on the topic of price control as administered to students of LaGuardia Community College in New York.

Elasticity topic, an introduction to microeconomics (SSE 103 Homework 2) administered at LaGuardia Community College in New York

Introduction to microeconomics (SSE 103) homework administered at LaGuardia Community College in New York.

What is economics? correct answers Economics is the study of how individuals and societies allocate their limited resources to satisfy their practically unlimited wants. What is scarcity? correct answers Scarcity exists when the marginal cost of obtaining something is greater than zero. Distinguish between a positive and negative incentive correct answers Positive incentives encourage action by offering rewards or payments. Negative incentives discourage action by providing undesirable co...

Economics Correct Answer The study of how people use their scare resources to satisfy their unlimited wants. Resources Correct Answer The inputs, or factors of production, used to produce the goods and services that people wants; resources consist of labor, capital, natural resources and entrepreneurial ability. Labor Correct Answer The physical and mental effort used to produce goods and services. Capital Correct Answer The buildings, equipment and human skills used to produce goods an...

Introduction to Microeconomics questions