UOP ECO365 Week 4 Knowledge Check Latest

ECO365 Principles of Microeconomics

Week 4 KNOWLEDGE CHECK

1. What do economists mean when they say there is "market failure"?

2. If a market has no externalities, marginal private costs

3. Economists generally call the effect of an agreement on others that is not taken into account by the parties making the agreement

4. The size performance improvements sought by those pursuing horizontal mergers is

5. A company buys another company in the same supply chain, but either in front of it or behind it in the supply chain. This is called

6. Sony and Toshiba become partners in a microprocessor manufacturing company. This is called

7. If two companies share ownership in a venture and agree on a formal management structure including members of both companies,this is called a

8. Two companies come together to take on a project that has an explicit time cycle and ending point. The most efficient form of acquisition of this project is

9. The more elastic the supply and the demand curves are,

10. Assuming a binding price floor, the more elastic the supply and demand curves are