Firms in the Past Used Two Fundamentally Different Types of ________

question 114

Short Answer

Firms in the past used two fundamentally different types of ________: telephone and computer.

Analyze the effects of supply and demand changes on market equilibrium prices and quantities.

Calculate equilibrium price in a market given supply and demand equations.

Identify examples and non-examples of markets.

Describe how changes in supply and demand impact market outcomes.

---

Definitions:

Abbreviation

The process of shortening something, usually a word or phrase, by omitting letters or using initial letters instead.

Colles Fracture

A type of fracture of the distal radius in the forearm with dorsal (posterior) displacement of the wrist and hand.

Distal End

The part of any structure further away from the center of the body or point of attachment.

Radius

One of the two large bones in the forearm, extending from the elbow to the wrist.