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Columbia Basin College ECON 201 First exam chapter 1 1)A decrease in population in a market will cause a: 2

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Columbia Basin College

ECON 201

First exam chapter 1

1)A decrease in population in a market will cause a:

2. An economy exhibits production efficiency if:

3. An effective price ceiling results in:
4. A normal good is a good that:
5. A perfectly inelastic demand is BEST represented by drawing a(n):
6. A production possibilities frontier will have a curved or “bowed out” shape if:
7. Bus tickets are considered       goods because     .
8. Ceteris paribus, a decrease in the number of businesses selling pizza will cause a(n):
9. Economists generally have               to say about equity than efficiency.
10. Economics understands that people respond to: