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Questions and Answers
In economics, a marginal value refers to
In economics, a marginal value refers to
- the total value of an activity
- the value associated with one more unit of an activity (correct)
- the net benefit of an activity
- the value associated with an unimportant activity
Which of the following is a positive question?
Which of the following is a positive question?
- Are companies like Nike exploiting workers in the developing world
- Can a monopoly ever be good for society
- What are the returns to education (correct)
- Is there a value in putting yourself in someone else’s shoes
Which of the following correctly describes incentives?
Which of the following correctly describes incentives?
- The minimum price at which a seller is willing to sell a product
- The rewards or penalties that motivate buyers to behave in a particular way (correct)
- The prices that are fixed by the government and not by market forces
- The maximum price that a buyer is willing to pay for a good
If the opportunity cost of time increases, which of the following statements is true?
If the opportunity cost of time increases, which of the following statements is true?
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