Market Demand curve	Answer 1Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Normal Goods	Answer 2Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Inferior Goods	Answer 3Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
A graphed series of prices and quantities of a selected good results in adownwardsloping _______	Answer 4Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
A graphed series of prices and quantities of a selected good results in aUPWARDsloping _______	Answer 5Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Change inQuantityDemanded	Answer 6Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Some describe this role as one that is a risk taker	Answer 7Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
One example of a Capital good	Answer 8Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Specialization	Answer 9Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Factors of production	Answer 10Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Technological improvement	Answer 11Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Scarcity	Answer 12Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
Change in Demand	Answer 13Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost
When interpreting the NEXT best alternatives we use the term	Answer 14Choose...Shifts the PP curve to the rightForces choiceA fall in income will lead to decreased consumption of this type of "good".Goods for which a rise in income will lead to decreased consumptionOpportunity costsSupply curveHorizontal summation of the individual demand curvesThe employeeDemand curveComplete "shift" of the demand curve to left or rightA factoryA corporate managerKey advantages of tradeLand, Labour, Capital and EnterpriseLong term description of movement "along" a demand curve in response to a "sale price"Vertical summation of the individual demand curvesTemporary movement along a demand curve in response to a "sale price"None of the available choicesThe shareholderChoices cost

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Match the following terms

Producing moreis the producer/processor reaction to this policy:	Answer 1Choose...Price CeilingPrice Floor
Rationingis the reason for this policy:	Answer 2Choose...Price CeilingPrice Floor
Rent Controlsare viewed by the market as a:	Answer 3Choose...Price CeilingPrice Floor
Minimum Wageis the interpreted by the market as a:	Answer 4Choose...Price CeilingPrice Floor