8. Economic models like the graphs or even mathematical equations that represent economic patterns or theories. are not physical models, but instead are diagrams or A. financial capital market B. circular flow diagram C. financial investment market D. Specialization Model 9. In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of: A. all consumers. B. buyers and sellers. C. producers and input suppliers. D. producers and government planning committees.

8. Economic models like the graphs or even mathematical equations that represent economic patterns or theories. are not physical models, but instead are diagrams or A. financial capital market B. circular flow diagram C. financial investment market D. Specialization Model 9. In a market-oriented economy, the amount of a good that is produced is primarily decided by the interaction of: A. all consumers. B. buyers and sellers. C. producers and input suppliers. D. producers and government planning committees.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Choose the correct answer:

8. Economic models like the
graphs or even mathematical equations that represent economic patterns or theories.
are not physical models, but instead are diagrams or
A. financial capital market
B. circular flow diagram
C. financial investment market
D. Specialization Model
9. In a market-oriented economy, the amount of a good that is produced is primarily decided by the
interaction of:
A. all consumers.
B. buyers and sellers.
C. producers and input suppliers.
D. producers and government planning committees.

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