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The interactions of producers and consumers in individual markets

ECO 204 Week 1 Quiz 1. The interactions of producers and consumers in individual markets are part of the study of 2. Self-interested behavior and incentives are 3. Demand for a good will always rise when 4. In the simplified pure market economy described by the two-sector circular flow model, the participants are 5. All but which one of the following could shift the demand curve? 6. Along with the other social sciences, economics is concerned with 7. In economics, scarcity means that 8. Microeconomics might include the study of 9. If beans are inferior goods, a decrease in income will 10. Which of the following is true of scarcity?

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