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Table: The Market for Kombucha Price ($/unit) Qd Qs 2.50 10 7 2.75 8 8 3.00 6 9 3.25 4 10 3.50 2 11 The table shows the quantity demanded (Qd) and quantity supplied (Qs) of kombucha at various prices. If the government imposes a price ceiling of $2.50 per bottle of kombucha, there will be:

Let’s assume there are only two firms in a hypothetical market for stuffed animals. Then, what would happen to the market if a third supplier enters the market, holding all else constant. A third firm would mean ___.

Which economic principle does this statement BEST represent the meaning of the diagram below?

Price (per bag) Quantity Demanded (bags per month) Quantity Supplied (bags per month) $0.90 75 285 0.80 110 250 0.70 145 215 0.60 180 180 0.50 215 145 0.40 250 110 0.30 185 75   Use Table: The Market for Salt and Vinegar Chips. There is a surplus of 70 bags of salt and vinegar chips per month if the price is _____ per bag.  

Delaware schools offered cash bonuses to students who scored high on the state’s standardized exams (Delaware Comprehensive Assessment System, or DCAS). The cash bonuses are motivated by which economic principle?

EXTRA POINT Q1 Recently, a series of studies have demonstrated the considerable beneficial health effects of food and drink derived from the amaranth plant. This has affected consumer tastes for amaranth flour, pods, root, etc. At the same time, particularly favorable weather has resulted in a bumper crop of amaranth plants.  Equilibrium quantity will ____, but equilibrium price will ____.  

Countries that engage in trade will tend to specialize in goods in which they have a(n) _____ and will _____ those goods.

Which cardiac structure is indicated by the arrow ?

EXTRA POINT Q5   The table describes the production of two goods, computers and phones, in Canada and the United States. Each country has a linear production possibility frontier with respect to its production of the two goods. The numbers in each column represent the total number of units each country could produce if it used all of its resources to produce the good. If each country specializes in the good in which it has the comparative advantage, then the price of 6 phones in terms of computer will be: Computers Phones Canada 50 100 United States 25 75

Emma spends $40,000 for one year’s tuition at university. The opportunity cost of one year at university for Emma is: