Goods X and Y are Compliments while goods X and Z are substitutes. If the supply of good X increases: Substitutes are goods that compete with one another or can be substituted…

Sample Test Questions for International Economics 300 Below are a set of sample test questions taken from previous exams in International Economics 300. The answers are indicated…

Demand, Supply and the Market 1 Coverage What are demand and supply What determines demand and supply What is the relationship between demand, supply and price How does the…

1. INDIFFERENCE CURVES AND UTILITY MAXIMIZATION Indifference curve– A curve that shows combinations of goodswhich gives the same level of satisfaction to the consumers…

1. In This Lecture…  Concepts of Utility: Cardinal and Ordinal  Law of Diminishing Marginal Utility  Indifference Curve (IC) Analysis : Concept, Properties, MRS…

Slide 1Chapter 4 Market Demand and Elasticity Slide 2 2 Market Demand Curves The market demand is the total quantity of a good or service demanded by all potential buyers.…

Slide 1Trade and Factor Prices Factor Price Equalization Slide 2 Trade and Input prices Stolper-Samuelson Theorem As a result of trade in each country: The production of…

1. Strategic CostDynamics 2. Strategic Cost Dynamics Strategic Cost Dynamics covers three Economics concepts.  Economies of Scale  Economies of Scope  Learning by…

1. General EquilibriumDr. Andrew McGeeSimon Fraser University 2. Interconnectedness of markets• Suppose new research is released showing that wineconsumption is good for…

1 Horizontal FDI Economics 689 Texas A&M University Horizontal FDI • Foreign direct investments are investments in which a firm acquires a controlling interest in a…