题目内容

A monopoly is a market with one()

A. seller, and that seller is a price taker
B. seller, and that seller sets the price
C. buyer, and that buyer is a price taker
D. buyer, and that buyer sets the price

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Which of the following would most likely serve as an example of a monopoly()

A. a restaurant in a large city
B. a dry cleaners in a large city
C. a local gas station
D. a local electrical company

“Other things equal, when the price of a good rises, the quantity demanded of the good falls, and when the price falls, the quantity demanded rises.” This relationship between price and quantity deman

A. equilibrium
B. the law of demand
C. the relationship between supply and demand
D. the definition of an inferior good

Which of the following is an example of a less-than-highly-organized market()

A. the market for U.S. Treasury bonds
B. the market for corn
C. the market for soybeans
D. the market for ice cream

The two words most often used by economists are()

A. prices and quantities
B. resources and allocation
C. supply and demand
D. efficiency and equity

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