Line De represents ranchers’ demand for hay last year. This year, winter is extremely mild and ranchers are consequently leaving their cattle in the pasture to graze for a longer period of time than they did last year. Which line represents this year’s demand for hay? 

Which of the following is a typical consequence of a rise in price?

What does the Invisible Hand adjust?

Land and labor are two factors of what?

A government can fix prices, such as a minimum or maximum price for a good or service which can create an aberrancy.  When the government fixes a price above the market rate what would be the most probable aberration?

A house owner wants to maintain his house.  What is the economic term for this desire?

_____ prices provide ______ for producers to increase production?

What best completes this statement:  “Market failures have negative effects on the economy because an optimal allocation of resources ________?”

A government can fix prices, such as a minimum or maximum price for a good or service which can create aberrancy.  When the government fixes a price below the market rate, what would be the most probable aberration?

The word “market” can have a variety of meanings.  A _______ market is one in which the resources   and semi-finished goods are exchanged.