ECON 1010 Study Guide - Midterm Guide: Marginal Cost, Marginal Utility, Peanut Butter
17 Oct 2013
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Instructions: this exam consists of 40 multiple choice questions. There is only one correct answer: circle your final answer for every question on each page of the exam and carefully mark the selected letter on the computerized answer. Sheet: use hb pencils only, only non-programmable calculators and your student i. d is allowed to be with you on your desk, time allowed: 90 minutes. Choose the one alternative that best completes the statement or answers the question. The study of how producers decide what inputs to hire and what outputs to produce. The study of how a provincial government allocates tax dollars. The study of how individuals, businesses, governments, and entire societies make choices as they cope with scarcity and the incentives that influence and reconcile those choices. The study of how consumers spend their income. The study of how consumers and producers meet each other at the market.
