Pokemon Go
What refers to the direct benefit received by the owner of a good?
A. marginal utility
B. total utility
C. value in use
D. value in trading
C. value in use
What states that when the price of a certain good rises, people tend to find alternatives that aren't as expensive?
A. value
B. elasticty
C. income
D. substitution
FREE BEE
Pick everyone in order from 1-whatever
1: lose all their points
2: lose all their points
3: lose all their points
4: lose all their points
5. lose all their points
6. lose all their points
7. lose all their points
8. lose all their points
9. lose all their points
10. lose all their points
What type of good is expected to last at least 3 years?
A. substitute good
B. nondurable good
C. durastitue good
D. durable good
D. durable good
What type of good is capable of being used in conjunction with another?
A. substitute good
B. durable good
C. complementary good
D. nondurable good
C. complementary good
FREE BEE
Pick one:
You lose 100 points or everyone else gains 200 points
Hahaha
When most or all of the firms in an industry agree to charge high prices, what is the result?
A. antitrust
B. trust
C. collusion
D. price discrimination
C. collusion
What forces a consumer to purchase certain goods before he is allowed to buy what he really wants?
A. antitrust
B. tying contract
C. collusion
D. price discrimination
B. tying contract
What is selling the same type of goods at different prices to different buyers called?
A. antitrust
B. tying contract
C. collusion
D. price discrimination
D. price discrimination
What act was adopted by the government in reaction to the large monopolistic trusts of the late 1800s?
A. Clayton
B. Carmen
C. Sherman
D. Samuel
C. Sherman
What type of market occurs when an industry is dominated by 2 or 3 firms?
Oligopoly
What type of market occurs when an industry is dominated by 1 firm?
monopoly
What is the collusion of a business that joins with another business to restrict or eliminate competition?
A. antitrust
B. trust
C. collusion
D. price discrimination
B. trust
True or False: Having a large number of firms is one of the 3 characteristics of monopolistic competition
True
True or False: Eliminating competition is one of the 3 characteristics of monopolistic competition.
False
True or False: An easy exit and entrance is one of the 3 characteristics of monopolistic competition.
True
The total value of a business minus any liabilities is what?
A. equilibrium
B. equity
C. market
D. shortage
B. equity
The value of the best alternative that is foregone when a different alternative is taken is what?
A. opportunity price
B. opportunity cost
C. opportunity profit
D. opportunity shortage
B. opportunity cost
The quantity demanded and quantity supplied are equal is what?
A. equity
B. profit
C. equilibrium
D. market price
C. equilibrium
A. profit
B. shortage
C. surplus
D. equity
B. shortage
What song is this? Hard Modern Rock Edition
A. Stricken by Disturbed
B. Alone by Zebrahead
C. Along for the Ride by The Bronx
D. Animals by Nickelback
Stricken by Disturbed
What song is this? Love Song Edition
A. Alive by Adelitas Way
B. Amanda by Boston
C. The Flame by Cheap Trick
D. Youre the Inspiration by Chicago
A. Alive by Adelitas Way
What song is this? Classic Rock Edition
A. Ballroom Blitz by Sweet
B. Detroit Rock City by KISS
C. Dr. Feelgood by Motley Crue
D. Immigrant Song by Led Zepplin
Dr Feelgood by Motley Crue
What song is this? Christian Rock Edition
A. Aftershock by Pillar
B. Angels and Demons by Disciple
C. Awakening by Switchfoot
D. Awake and Alive by Skillet
C. Awakening by Switchfoot
What song is this? Heartland Rock Edition
A. Carefree Highway by Gordon Lightfoot
B. The Fire Inside by Bob Seger
C. Running on Empty by Jackson Browne
D. The Party's Over by Journey
C. Running on Empty by Jackson Browne