Economics Fundamentals

Which branch of economics deals with the behavior of individual households and firms in making decisions on the allocation of limited resources?

What is the problem that arises due to unlimited wants but limited resources?

What is the study of making choices called?

What does economics study?

What is the branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole?

What are the two branches of economics mentioned in the text?

What do the x and y coordinates represent in a graph?

What is the shared zero point of the x and y axes called?

What is the branch of economics that studies the behavior of individual households and firms in making decisions on the allocation of limited resources?

What type of relationship exists when both variables in a graph move in the same direction?

During the exam, what will be considered as 'cheating'?

What will be the consequence of 'cheating' during the exam?

What are students allowed to carry during the exam?

What will students be rewarded for?

What will result in an 'F' grade?

What materials are not allowed to be carried during the exam?

What will be considered as 'cheating'?

What will be the consequence of 'cheating' during the exam?

What are students allowed to carry during the exam?

What will students be rewarded for?

Which one of the following statements best describes a negative relationship between two variables?

What does the slope of a line or curve represent?

Which of the following best describes a linear relationship between two variables?

What is the general form of a linear equation representing the relationship between x and y variables?

What is the y-intercept of a line?

What does a positive slope indicate in a linear relationship?

What does a negative slope indicate in a linear relationship?

What does a graph represent in economics?

What does the dependent variable represent in a graph?

What is the purpose of quizzes in this course?