Micro Economics
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
Maisha Moton
FREE Resource
Student preview

33 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is exchanged between the firm/businesses and product resource market?
Back
Products to sell and Revenue
2.
FLASHCARD QUESTION
Front
In the circular flow model, the product market describes
Back
stores that sell goods and services to households
3.
FLASHCARD QUESTION
Front
The circular flow model of a market economy shows
Back
the interactions between households and firms in the free market
4.
FLASHCARD QUESTION
Front
Most American households receive income from selling which productive resource to the factor/resource market?
Back
Labor
5.
FLASHCARD QUESTION
Front
At $2 what does this represent?
Back
Equilibrium
6.
FLASHCARD QUESTION
Front
Picture Perfect Cameras competes with only a couple of other camera companies. Picture Perfect Cameras has differentiated its cameras and has the ability to raise prices. What type of market structure is this?
Back
Oligopoly
7.
FLASHCARD QUESTION
Front
From who's perspective do we view supply?
Back
Producers
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