The "Brains" of the Computer Is the ________

question 33

Short Answer

The "brains" of the computer is the ________.

Identify factors leading to changes in supply and demand, including government interventions like taxes and subsidies.

Understand market efficiency, including allocative and productive efficiencies, and the conditions under which they are achieved.

Distinguish between substitute and complementary goods, and normal and inferior goods.

Explain how equilibrium price and quantity in the market are determined and affected by shifts in supply and demand.

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Definitions:

Dimensional-analysis

A process of converting units of measurement to solve problems involving measurements of various dimensions.

Kilometers

A unit of length in the metric system equal to 1000 meters.

Miles

A unit of distance or length measure equal to 5,280 feet or approximately 1.609 kilometers, used mainly in the United States.

Square

A polygon with four equal sides and four right angles; also, the mathematical operation of multiplying a number by itself.