Skip to ContentGo to accessibility pageKeyboard shortcuts menu
OpenStax Logo
Principles of Economics 2e

Review Questions

Principles of Economics 2eReview Questions
13.

What is the “price” commonly called in the labor market?

14.

Are households demanders or suppliers in the goods market? Are firms demanders or suppliers in the goods market? What about the labor market and the financial market?

15.

Name some factors that can cause a shift in the demand curve in labor markets.

16.

Name some factors that can cause a shift in the supply curve in labor markets.

17.

How do economists define equilibrium in financial markets?

18.

What would be a sign of a shortage in financial markets?

19.

Would usury laws help or hinder resolution of a shortage in financial markets?

20.

Whether the product market or the labor market, what happens to the equilibrium price and quantity for each of the four possibilities: increase in demand, decrease in demand, increase in supply, and decrease in supply.

PreviousNext
Order a print copy
Citation/Attribution

This book may not be used in the training of large language models or otherwise be ingested into large language models or generative AI offerings without OpenStax's permission.

Want to cite, share, or modify this book? This book uses the Creative Commons Attribution License and you must attribute OpenStax.

Attribution information
  • If you are redistributing all or part of this book in a print format, then you must include on every physical page the following attribution:
    Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction
  • If you are redistributing all or part of this book in a digital format, then you must include on every digital page view the following attribution:
    Access for free at https://openstax.org/books/principles-economics-2e/pages/1-introduction
Citation information

© Jun 15, 2022 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.