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BUS 697 Entire Course New > ECO 204 Entire Course New > Flashcards

ECO 204 Entire Course New Flashcards

1
Q

ECO 204 Week 1 Discussion 1 NEW

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ECO 204 Week 1 Discussion 1 NEW

Explain what resources are.

Evaluate why current resource scarcity is problematic.

A

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2
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ECO 204 Week 1 Discussion 2 NEW

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ECO 204 Week 1 Discussion 2 NEW

If Coke’s price increases, what will happen to the demand or quantity demanded for Pepsi, all other things being equal?

Explain whether it is a movement along the demand curve or a shift of the demand curve.

If Coca-Cola develops a new technology that makes Coke tastier, what will happen to the supply curve and demand curve for Coke?

A

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3
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ECO 204 Week 2 Assignment The Law of Diminishing Marginal Utility NEW

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ECO 204 Week 2 Assignment The Law of Diminishing Marginal Utility NEW

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4
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ECO 204 Week 2 Discussion 1 NEW

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ECO 204 Week 2 Discussion 1 NEW

Identify the determinants of the price elasticity of demand. Explain each one.

A

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5
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ECO 204 Week 3 Discussion 1 NEW

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ECO 204 Week 3 Discussion 1 NEW

Sarah owns a bakery that has four ovens, one full-time exempt administrative employee, and eight part-time hourly bakers.

Based on this information, respond to the following: Distinguish between the short run and the long run. What will differentiate the short run and the long run?

Describe fixed inputs and variable inputs. Which inputs are fixed and which are variable in Sarah’s bakery?

A

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6
Q

ECO 204 Week 3 Discussion 2 NEW

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ECO 204 Week 3 Discussion 2 NEW

How can the long-run average cost (LRAC) curve be derived from the short-run average total cost (SRATC) curve?

Describe economies of scale and diseconomies of scale.

A

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7
Q

ECO 204 Week 4 Assignment The Market Structures Paper NEW

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ECO 204 Week 4 Assignment The Market Structures Paper NEW

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8
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ECO 204 Week 4 Discussion 1 NEW

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ECO 204 Week 4 Discussion 1 NEW

A

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9
Q

ECO 204 Week 4 Discussion 2 NEW

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ECO 204 Week 4 Discussion 2 NEW

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10
Q

ECO 204 Week 4 Group Assignment NEW

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ECO 204 Week 4 Group Assignment NEW

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11
Q

ECO 204 Week 5 Discussion 1 NEW

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ECO 204 Week 5 Discussion 1 NEW

Why is the demand for labor called a derived demand?

In the labor market, what are the firm’s demand curve for labor and the workers’ supply curve of labor?

How is a firm’s wage normally determined in the labor market?

A

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12
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ECO 204 Week 5 Discussion 2 NEW

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ECO 204 Week 5 Discussion 2 NEW

What is the public choice idea or theory?

Explain what rent seeking is.

A

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13
Q

ECO 204 Week 5 Final Paper Education and Income Inequality NEW

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ECO 204 Week 5 Final Paper Education and Income Inequality NEW

A

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BUS 697 Entire Course New (10 decks)

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