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