Blah

In: Business and Management

Submitted By bsdixon
Words 8360
Pages 34
Exam 1
ECN 201 Microeconomics

Chapter 1

5) What does scarcity have to do with the fact that people must make choices?
Answer: Scarcity implies that people cannot have everything they want. This implies that ways must be found to determine which of the many goods that people want will actually be produced. Further, since any person cannot have everything he or she wants, the person must decide which specific things to acquire. That is, the person must make choices.
Diff: 2
Topic: 1.1 The Power of Economic Analysis
AACSB: Analytic skills
Question Status: Previous Edition

6) What is economics and what does it try to explain?
Answer: Economics is the study of how people allocate their limited resources in an attempt to satisfy their unlimited wants. Therefore, it is the study of how people make choices. Economics tries to explain real-world behavior, especially as it relates to interactions of people confronting scarcity.
Diff: 1
Topic: 1.1 The Power of Economic Analysis
AACSB: Analytic skills
Question Status: Previous Edition

1.2 Defining Economics

1) Economics is best defined as the
A) study of how people make choices to satisfy their wants.
B) study of individual self-interests.
C) study of how government can most efficiently raise funds by taxation.
D) process by which goods are sold in free markets.
Answer: A
Diff: 1
Topic: 1.2 Defining Economics
AACSB: Analytic skills
Question Status: Previous Edition

87) Distinguish between macroeconomics and microeconomics.
Answer: Macroeconomics is concerned with the behavior of the economy as a whole, while microeconomics is concerned with the choices of individual decision-makers, such as households and firms. Macroeconomics deals with aggregates, such as the total output of the economy or unemployment, while microeconomics deals with how many hours a person chooses to work…...

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Blah Blah Blah

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Blah!

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Blah

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Blah Blah

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Blahdy Blah Blah - an Examination

...Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end Blah was strange, but he was nice – the end...

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Blah to the Blah Blaher Duh

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Blah

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Blah Blah

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Blah

...Austin Carey  09/20/15  Eng 1010                                                    Blah Blah Blah!!!!!!    Have you ever been in that awkward situation where someone is talking to you, and all you hear is blah blah blah blah? Growing up having a friend from a different culture there was a lot of things going on that I couldn’t understand at a younger age. I meet my friend Johnathan at age of 5. We hung out together, ate together, went to school together pretty much did everything together, so it was almost like we were the same person. Even though me and my friend was like one we had a lot of difference. One of the biggest difference between us was he was part Spanish but you couldn’t tell by the complication of his skin color. I can remember the first day I went in his house, that day I was so nervous and had all eyes on me but all I could hear was blah blah blah. I was standing in my friend’s living room, with a gigantic grin on my face. Thinking to myself how funny his mom sounds, I bursted out a full goofy laugh. As the tears rolled down from my eyes from laughing so hard. I heard a distinct change in the tone of his mom's voice. Instantly Johnathan gets my attention and lets me know his mom is really upset right now. Me not knowing that there was different language I felt confused on why she would be so upset. My friend took me to his room, once we got in his room he explained to me that his mom didn’t speak English. Not knowing how......

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Blah Blah Blah

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Blah

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Blah

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