Solutions for Chapter 4: Demand

Economics: Concepts and Choices: Student Edition 2008 | 1st Edition | ISBN: 9780618594030 | Authors: MCDOUGAL LITTEL

Full solutions for Economics: Concepts and Choices: Student Edition 2008 | 1st Edition

ISBN: 9780618594030

Economics: Concepts and Choices: Student Edition 2008 | 1st Edition | ISBN: 9780618594030 | Authors: MCDOUGAL LITTEL

Solutions for Chapter 4: Demand

Chapter 4: Demand includes 13 full step-by-step solutions. Since 13 problems in chapter 4: Demand have been answered, more than 1487 students have viewed full step-by-step solutions from this chapter. This textbook survival guide was created for the textbook: Economics: Concepts and Choices: Student Edition 2008, edition: 1. Economics: Concepts and Choices: Student Edition 2008 was written by Patricia and is associated to the ISBN: 9780618594030. This expansive textbook survival guide covers the following chapters and their solutions.

Key Business Terms and definitions covered in this textbook
  • balanced trade

    a situation in which exports equal imports

  • bond

    a certificate of indebtedness

  • budget deficit

    an excess of government spending over government receipts

  • collusion

    an agreement among firms in a market about quantities to produce or prices to charge

  • constant returns to scale

    The property whereby long-run average total cost stays the same as the quantity of output changes

  • consumption

    spending by households on goods and services, with the exception of purchases of new housing

  • demand schedule

    a table that shows the relationship between the price of a good and the quantity demanded

  • economics

    the study of how society manages its scarce resources

  • equality

    the property of distributing economic prosperity uniformly among the members of society

  • equilibrium price

    the price that balances quantity supplied and quantity demanded

  • factors of production

    the inputs used to produce goods and services

  • incentive

    something that induces a person to act

  • lump-sum tax

    a tax that is the same amount for every person

  • open economy

    an economy that interacts freely with other economies around the world

  • open-market operations

    the purchase and sale of U.S. government bonds by the Fed

  • rivalry in consumption

    the property of a good whereby one person’s use diminishes other people’s use

  • supply curve

    a graph of the relationship between the price of a good and the quantity supplied

  • supply schedule

    a table that shows the relationship between the price of a good and the quantity supplied

  • theory of liquidity preference

    Keynes’s theory that the interest rate adjusts to bring money supply and money demand into balance

  • utility

    a measure of happiness or satisfaction

×
Log in to StudySoup
Get Full Access to Economics: Concepts and Choices: Student Edition 2008

Forgot password? Reset password here

Join StudySoup for FREE
Get Full Access to Economics: Concepts and Choices: Student Edition 2008
Join with Email
Already have an account? Login here
Reset your password

I don't want to reset my password

Need help? Contact support

Need an Account? Is not associated with an account
Sign up
We're here to help

Having trouble accessing your account? Let us help you, contact support at +1(510) 944-1054 or support@studysoup.com

Got it, thanks!
Password Reset Request Sent An email has been sent to the email address associated to your account. Follow the link in the email to reset your password. If you're having trouble finding our email please check your spam folder
Got it, thanks!
Already have an Account? Is already in use
Log in
Incorrect Password The password used to log in with this account is incorrect
Try Again

Forgot password? Reset it here