Grade 12Economics

When sellers charge different buyers different prices for the same products,
this is called .
a. price war
b. price discrimination
c. differentiate
d. collusion

Grade 12Economics
The newest hairstyle makes the price of hair cuts rise. All of the sudden no
one wants that particular haircut anymore. What effect does this have on the
haircut market?
a. elastic
b. inelastic
c. unit elastic
d. unelastic

Grade 12Economics
What is a corporation?

Grade 12Economics
Define Entrepreneur

Grade 12Economics
Identify the three questions that all societies must answer:

Grade 12Economics
A demand curve is accurate only as long as the assumption is
true.
a. ceteris paribus
b. demand schedule
c. news
d. demand

Grade 12Economics
An increase in income will shift the demand curve for a normal good to the
left.
a. True
b. False

Grade 12Economics
Chrysler has to repay their six million dollar debt.
a. True
b. False

Grade 12Economics
A secret agreement between competing businesses to cooperate to control
the market and earn a profit is called .
a. trust
b. warranty
c. price war
d. collusion

Grade 12Economics
Extra, free services offered to attract customers are called .
a. customer services
b. logos
c. utilities
d. price wars

Grade 12Economics

This question is a part of a group with common instructions. View group »

What is a Tariff?

Grade 12Economics
There will be a sale next week on your favorite item and you choose to wait
to buy it until next week. What is this an example of?
a. income
b. consumer expectations
c. population
d. consumer tastes and advertising

Grade 12Economics
"The UK is currently operating on its production possibilities frontier". This is
a:
a. Normative statement
b. Positive statement

Grade 12Economics
This is NOT one of the factors that is used to determine elasticity:
a. Price range
b. Availability of substitutes
c. Availability of complements
d. Change over time
Grade 12Economics
How can a business reduce its fixed cost per item sold?

Grade 12Economics
What effects does Chrysler's refinance have on the car market? Why? For
example, what difference will car buyers see when they buy a car?

Grade 12Economics
Even though the supply of gasoline is adequate, what causes the prices to be
so high? Why?

Grade 12Economics
Explain the practice of Laissez-Faire

Grade 12Economics
What is a monopoly?

Grade 12Economics
The price of a can of yellow paint raised from $9.00 to $10.00 due to lack of
yellow pigment this month. The monthly number of cans sold decreased
from 150 to 100 cans.

Using the above information exactly calculate the price elasticity of demand
and tell if it is elastic, inelastic, or unit elastic.
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