ECON 2100 Midterm: ECON 2100 Kennesaw State ECON2100 Summer2015 Exam1C
Document Summary
Econ 2100 (summer 2015 sections 07 and 08) ___________________ refers to the process which transforms scarce resources into useful goods and services. Last week professional golfer rory mcilory missed the cut at the irish open. During this same week severe floods in oklahoma and texas led to the deaths of 29 people. If rory is more upset about his poor play in the irish open than about the loss of life due to the floods, it would suggest that he masochistic. irrational. a horrible person. self-interested. Gerard and james spend each workday assembling bicycles and fixing computers. Gerard can assemble 8 bicycles in a single day, while james can assemble 12 bicycles in a single day. James possesses an absolute advantage in assembling bicycles. James possesses a comparative advantage in assembling bicycles. Gerard possesses an absolute advantage in assembling bicycles. Last week john went to an atlanta braves game at turner field.
