Ashford ECO 203 Week 1 Quiz Solutions

ECO 203 Week 1 Quiz


Drive-through restaurants next to freeways may charge higher prices than those restaurants farther away from freeways. This is most likely due to __________.

Which of the following is LEAST likely to be a public good?

In his study of the role of the foreign sector in economics, Harry learns that specialization and trade exist because __________.

To Oliver, who is an economist, a printer and ink cartridge are known as __________ goods.

TheWall Street JournalĀ carried a story on a grocery store that operates with few services and limited use of attractive displays, but with lower prices on its goods than its competitors. This decision primarily answers which economic question?

When a price changes, one should expect a change in __________.

Most modern industrial countries have a __________ economy.

There is an increase in the demand for aspirin at the same time as workers in the aspirin industry receive a substantial pay increase. What will most likely happen?

Which of the following is NOT a function of price in the market system?

Liam owns a herd of cows in a market-based, mixed-economy nation. Accordingly, which of the following statements is TRUE?

Note: This entire class includes online quizzes, discussions, assignments, course projects, and online exams.

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