History- U.S. and Global Economics

timer Asked: Mar 23rd, 2014

Question Description

1. Describe the role that workers play in the game of economics. (2 points)

2. Explain why the worker's role is unique. (3 points)

3. Explain why it is important for producers to conduct market research. (2 points)

4. Give at least one example of a type of market research that producers conduct. Explain the kind of information this research provides. (3 points)

5. Describe what utility measures, and explain why it is different from one consumer to another. (3 points)

6. Explain why utility is a useful tool for understanding consumer behavior. (2 points)

7. List two characteristics of an oligopolistic industry. (2 points)

8. Why are so many familiar industries oligopolies? (3 points)

9. Explain why circulation and ratings systems determine how much money different advertisements cost to run. (5 points)

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