The Mexican Revolution Essay

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__________________________________________ 1. A market can be defined as any place where buyers and sellers come together to exchange goods. __x_True ___False 2. Choose the best answer. Based on # 1 above, what makes the place where buyers and sellers come together a market? __x_a) at this place are people who want to buy and people who want to sell, ___b) it can be a place where is a large frequency of people congregate, ___c) the area is “right” for trade and commerce to take place, ___d) all of these are possible, ___e) not any of these are possible 3. The demand curve has a downward slope. One of the reasons for the downward slope is, ___ a) the law of demand which defines the slope and the demand curve as a relationship _ between price and quantity produced, ___b) consumer taste changes and this gives a downward slope, __x_c) common sense, ___d) not any of these choices 4. Choose the best answer. An equilibrium position has been established in the market place. Suddenly, consumers have more money and they begin to spend it. This would, ___a) do nothing in the market place,

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