When People Feel There Is a Demand on Them, They

question 5

Multiple Choice

When people feel there is a demand on them, they appraise their resources for dealing with the demand. If perceived resources are inadequate to meet the demand, people:

• A) experience a feeling of threat that motivates approach behaviours (fight).
• B) experience a feeling of challenge that motivates avoidance behaviours (flight).
• C) experience a feeling of challenge that motivates approach behaviours (fight).
• D) experience a feeling of threat that motivates avoidance behaviours (flight).

Depict and interpret the production possibilities frontier and its implications for economic choice and trade-offs.

Determine equilibrium prices and quantities in competitive markets.

Understand the principles of marginal rates of transformation (MRT) and substitution (MRS) and their roles in economic efficiency.

Analyze the effects of government policies, such as taxes and trade restrictions, on economic equilibriums.