Economics Midterm Review (S21)

Which factors would raise your credit score?

• Approaches Limit on an Account
• Bankruptcy
• Home Foreclosure
• Opens a new line of credit
• Mature Accounts

Which factors would lower your credit score?

• Approaches Limit on an Account
• Bankruptcy
• Home Foreclosure
• Opens a new line of credit
• Mature Accounts

Which determinants belong to demand?

• Number of Buyers
• Number of Suppliers
• Technology/Productivity
• Price of Substitutes
• Price of Complements

Which determinants belong to supply?

• Number of Buyers
• Number of Suppliers
• Technology/Productivity
• Price of Substitutes
• Price of Complements

________ is a theoretical market structure in which firms sell an identical product.

The market structure, _________, with a small number of firms control the market

The market structure, __________, exists when a specific enterprise is the only supplier of a good/service

The market structure, _______, is where many firms offer products that are similar

A _______________ is the activity that takes place outside government-sanctioned channels

An ______________ is the highest alternative given up when deciding.