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Who developed the “P-D-C-A Cycle”? [ans]

A ___________ is the loss to society of not producing the supply-and-demand determined level of output.

Suppose the absolute price of good X is $10 and the absolute price of good Y is $5. A tax is placed on the purchase of good X only and not another good Y. The tax effectively raises the consumer’s pay for good X from $10 to $15. Now, the relative price of one unit of good X is (1)________ units of a good Y.  The relative price of one unit of good Y is (2)________ units of a good X.  *Hint: therefore, the tax makes good X relatively more expensive and makes good Y relatively cheaper.

Based on the above graph, Total surplus (TS) is ________________ in a market without any price controls.  The market is allowed to move to equilibrium. 

Based on the above figure, If is a price ceiling, then the quantity demand at the price ceiling (i.e., ) is:

Based on the above graph, Deadweight loss is ________________ in a market with a price floor (i.e., ) The market is not allowed to move to equilibrium.  Hint: the loss in total output is called a deadweight loss; therefore, a price floor ends with a deadweight loss.

The Greek civilization developed which form of government? 

B. Vocabulary Part 2: Read the Chinese vocabulary and match the correct English.     

Of the given valence numbers, which one will make the best conductor?

True or False: Historians are able to read the language of the Indus Valley people.