Unit 4 Review and Exam Study Guide for Economics Students
Explore Unit 4 review materials covering topics like competitive labor markets, labor demand, and economic growth. Study ideas include doing practice problems, quizzes, and understanding key outcomes for success. Prepare for your exam using flashcards, graphs, and models provided in the lessons.
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Presentation Transcript
Unit 4 Review This web quiz may appear as two pages on tablets and laptops. I recommend that you view it as one page by clicking on the open book icon at the bottom of the page.
Unit 4 Review Unit 4 covers: Chapter 12 Chapter 13 Chapter 20 Chapter 22 Be sure to see the exact textbook pages listed on our LESSONS page or App.
Unit 4 Review Major topics : Comp. labor market and imperfect comp. in product market The profit maximizing Rule for employing labor (MRP = MRC) The alloc. efficient quantity of labor (VMP = W) Labor is a derived demand Determinants of Labor demand Determinants of price elasticity of labor demand Competitive labor market Be sure to see the Outcomes what you should learn listed on our LESSONS page and App.
Exam 4 Review Study Ideas: Learn the vocabulary see flashcards on Lesson webpage or app Draw each graph and know examples that they represent Learn each model see Yellow Pages Be sure to see the Outcomes what you should learn listed on our LESSONS page and App.
Unit 4 Review Study Ideas DO PROBLEMS: Do the Yellow Page problems Do the Required Activities Do the Clicker Quizzes Look at the Pre-quizzes Do the Practice Exercises (see link on Bb) Be sure to see the Outcomes what you should learn listed on our LESSONS page and App.
Unit 4 Review Study Ideas: Do you understand each of the Outcomes what you shuol learn listed on our LESSONS page and App?
1. Which of the following is NOT one of the three options that society has for dealing with scarcity? 1. Use existing resources wisely 2. Allocative Efficiency 3. Reduce wants or expectations 4. Economic growth
1. Which of the following is NOT one of the three options that society has for dealing with scarcity? 1. Use existing resources wisely 2. Allocative Efficiency 3. Reduce wants or expectations 4. Economic growth
Study hard! Study hard!
