Opportunity Cost

What is Opportunity Cost (Define and Explain) ? Give an example of an Opportunity Cost. . Define Shift In Demand. Define Caveat Emptor. How is Caveat Emptor related to Economics and Consumer Choice? [explain your answer]

The Free Market for Rental Housing

Describe the market for rental housing, as it would be in a free market without government intervention, using what you have learned about scarcity, marginal analysis in decision-making, and markets. You must include a discussion of resources, supply and demand, as...

Understanding Deflation

A. Explain what is meant by deflation B. Explain the main causes of deflation. C. Differentiate between nominal inflation and real inflation. D. Use the information below to calculate the country’s real GDP in 2020 if the country has a hypothetical nominal GDP of $700...