Multiple Choice 1. Equilibrium a. is a concept unique to economics. b. always occurs where supply equals demand. C. results when opposing forces fail to cancel each other out. d. indicates balance. e. all of the above

1. The equilibrium price of a good is determined by the intersection of its supply and demand curves. We can know everything about a goods cost of production( that, is we can know its supply exactly) yet still not know where the demand curve will intersect the supply curve

This chapter introduces comparative advantage and shows that having people specialize in the production in which they are relatively more efficient allows the production of more of everything. It introduces the production possibilities curve and develops the production possibilities model to show precisely how specialization enhances the productive capacity of an economy

MB MC Overview 1 a Chapter l introduces the concept of scarcity as applied in economics(also the No-Free-Lunch Principle). It presents the unavoidable fact that our needs and wants are unlimited and resources available to satisfy them are limited

随着数字通信技术和计算机技术的快速发展以及通信网与计算机网络的相 互融合,信息科学技术已成为21世纪国际社会和世界经济发展的新的强大推动 力。信息作为一种资源,只有通过广泛地传播与交流,才能产生利用价值、促进 社会成员之间的合作、推动社会生产力的发展、创造出巨大的经济效益。 本章将简要介绍通信系统的基本概念、组成和分类、信息的度量以及评价通 信系统性能的指标

According to Say's Law, Supply Creates Its Own Demand as Prices move to balance Demand with Aggregate Supply

Increases Affect Aggregate Supply?OSt How Do Growth in Potential Output and Ce

ECNOMICS Openness of Different Economies, 1997

ECNOMICS Economic Growth Is Key to Long- Term Living Standards

ECENOMIC S We Now Turn to Money: Its Demand and the Role of Banks in Its Supply