AP Microeconomics – Chapter 3 Outline I. Learning Objectives – In this chapter students should learn: A. What demand is and how it can change. B. What supply is and how it can change. C. How supply and demand interact to determine market equilibrium. D. How changes in supply and demand affect equilibrium prices and quantities. E. What government‐set prices are and how they can cause product surpluses and shortages. II. Markets A. A market‚ as introduced in Chapter 2‚ is an institution or mechanism that brings
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Summary – Chapter 1 starts with a young boy named Ralph‚ searching the area around him to find other life after their plane crash landed on a deserted island. Ralph eventually finds another boy with the nickname "Piggy" and they realize that are no adults and that they can’t find their plane. Then they decide to go to the shore to swim and Ralph tells Piggy that his dad will save them since he is in the navy but Piggy tells him that the pilot had told them that an atom bomb had gone off and everyone
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Summary – Chapter 3 starts with Jack alone in the woods hunting for pigs. Even though he tries really hard he fails to kill a pig‚ so he decides to go back where Ralph and Simon are trying to build shelters. Once he gets back him and Ralph get into a fight over what is more important killing a pig or building a shelter but Simon interrupts them and says that some of the kids still believe in the beastie. Instead of worrying about the beastie‚ Jack starts to talk about how they should paint their
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2. The degree to which a person identifies with his or her job‚ actively participates in it‚ and considers his or her performance important to self-worth is:A a. job involvement b. job satisfaction c. organisational commitment d. job stability 3. Organisational commitment:D a. has three separate dimensions b. is an attitude c. has a positive but modest relationship to job productivity d. is all of the above 4. Job satisfaction is best described as:B a. a value b. an attitude. c. Behaviour
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individuals and households that buy goods and services for personal consumption. What type of market does Percy Original cater to? Answer | | | | | Selected Answer: | consumer | Correct Answer: | consumer | | | | | * Question 3 2 out of 2 points | | | Focus group interviewing has become one of the major marketing research tools for getting insight into consumer thoughts and feelings. However‚ if the sample size is small‚ a researcher would be most concerned about
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What was the Zone System? Why was its development important? The Zone system is the adjustment of the exposure in a photograph to make the most of shadows and highlights of a photograph. The Zone System‚ which was developed by Ansel Adams‚ separates tones between white and black into eleven different zones‚ with middle gray being at the center; each of these zones corresponded to an f/stop. The manipulation of light is what Ansel Adam’s is best known for. The zone system was designed
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Word | Definition | Clue | Cell Theory | A theory that states that all organisms are made of cells‚ all cells are produced by other living things‚ and the cell is the most basic unit of life. | | Cytoplasm | A jellylike substance that contains dissolved molecular building blocks- such as proteins‚ nucleic acids‚ minerals‚ and ions. | | Organelles | Structures that are specialized to perform distinct processes within a cell. | | Prokaryotic Cells | Cells that do not have a nucleus or other
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a. Both Ford and Toyota management comment on the fact that internal control over financial reporting has “inherent limitations.” What are those inherent limitations? Inherent limitations of internal control over financial reporting include things like fraud‚ human error‚ overriding of controls. Internal controls‚ no matter how big or small the company‚ can only assure that they provide “reasonable assurance” that the objectives of the internal control system and being achieved. b. Locate the
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Part A Both Marx and Plato’s utopias offer a vision of a society where citizens are not relegated to certain class roles just because of the level of wealth into which they are born. Their visions lead‚ however‚ in very different directions. Compare Marx and Plato’s notion of equality as laid out and practiced in their utopias. MARX- According to Marx humanity evidences two species characteristics: the capacity for harmonious society with others and the capacity for free‚ conscious and universal
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Chapter 6 Vocab terms: * Spartan – sternly disciplined and rigorously simple‚ frugal‚ or austere. ”The room was so spartan there was no place to hide the pouch except under his clothes.” * Shalwar - loose‚ pajamalike trousers worn by both men and women in India and southeast Asia. “You are the rich man?” he asked‚ looking doubtfully at Mortenson’s frayed running shoes and worn mud-colored shalwar.” * Juddered - to vibrate violently “And as they juddered over potholes at hundred
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