ECO 203 WEEK 1 QUIZ

July 6, 2015  |  By  | 


For more course tutorials visit www.uoptutorial.com 1. Question : If an individual's income increases, then the demand for a normal good will 2. Question : An example of investment, as defined in economics, is 3. Question : All but which one of the following could shift the demand curve? 4. Question : When a firm decides to replace some workers with robots in its production process, it is making a decision about one of the basic economic questions. Which one? 5. Question : When price changes, one should expect a change in 6. Question : Demand relates the various amounts that consumers are willing to buy over a specified time period 7. Question : When the government redistributes income, it is answering a basic economic question. Which one? 8. Question : Self-interested behavior and incentives are 9. Question : Which of the following would be described as capital by an economist? 10. Question : When price changes, there is an opposite change in the

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