Question 1

In economics, the term "marginal" usually refers to

Accepted Answer

A) a small change in an economic variable 
B) a low-quality product or resource 
C) an unimportant and irrelevant economic variable 
D) an all-or-nothing economic decision 
E) a footnote or minor point 
A) a small change in an economic variable 
B) a low-quality product or resource 
C) an unimportant and irrelevant economic variable 
D) an all-or-nothing economic decision 
E) a footnote or minor point

Question 2

An entrepreneur

Accepted Answer

A) always makes a profit 
B) starts with an idea, organizes the resources to bring the idea to life and assumes the risk of profit or loss 
C) always avoids risk 
D) is a parasite that benefits by not paying other resources for their services 
E) is the manager who runs an enterprise and keeps the customers happy 
A) always makes a profit 
B) starts with an idea, organizes the resources to bring the idea to life and assumes the risk of profit or loss 
C) always avoids risk 
D) is a parasite that benefits by not paying other resources for their services 
E) is the manager who runs an enterprise and keeps the customers happy

In economics, the term "marginal" usually refers to

An entrepreneur

Appendix--Understanding Graphs

Economic Tools and Economics Systems

Economic Decision Makers

Demand, Supply, and Markets

Elasticity of Demand and Supply

Appendix--Price Elasticity and Tax Incidence

Consumer Choice and Demand

Appendix--Indifference Curves and Utility Maximization

Production and Cost in the Firm

A--Perfect Competition

B--Perfect Competition

A--Monopoly

B--Monopoly

Monopolistic Competition and Oligopoly

Resource Markets

Labor Markets and Labor Unions

Capital, Interest, and Corporate Finance

Transaction Costs, Imperfect Information, and Behavioral Economics

Economic Regulation and Antitrust Policy

Public Goods and Public Choice

Externalities and the Environment

Income Distribution and Poverty

International Trade

International Finance

Economic Development

Filters

Exam 1: The Art and Science of Economic Analysis

In economics, the term "marginal" usually refers to

An entrepreneur

Appendix--Understanding Graphs

Economic Tools and Economics Systems

Economic Decision Makers

Demand, Supply, and Markets

Elasticity of Demand and Supply

Appendix--Price Elasticity and Tax Incidence

Consumer Choice and Demand

Appendix--Indifference Curves and Utility Maximization

Production and Cost in the Firm

A--Perfect Competition

B--Perfect Competition

A--Monopoly

B--Monopoly

Monopolistic Competition and Oligopoly

Resource Markets

Labor Markets and Labor Unions

Capital, Interest, and Corporate Finance

Transaction Costs, Imperfect Information, and Behavioral Economics

Economic Regulation and Antitrust Policy

Public Goods and Public Choice

Externalities and the Environment

Income Distribution and Poverty

International Trade

International Finance

Economic Development

Filters