Examlex
Figure 3-3
Ice cream is measured in kilograms.
-Refer to Figure 3-3. For Ben, what is the opportunity cost of 1 kg of cones?
Negative Externalities
Costs suffered by a third party as a result of an economic transaction or activity, not reflected in the transaction's price.
Traffic Congestion
A condition on road networks that occurs as use increases, and is characterized by slower speeds, longer trip times, and increased vehicular queueing.
Express Lanes
Specifically designated traffic lanes designed to reduce congestion by allowing vehicles meeting certain criteria, such as carpooling or toll payment, to use a less congested lane.
Toll Roads
Highways or sections of highways for which users are required to pay a fee for access or passage.
Q10: Refer to Table 3-2. How could the
Q11: Refer to Figure 3-2. What is the
Q17: List the three ways in which courts
Q23: What does comparative advantage reflect?<br>A)productivity.<br>B)relative opportunity cost.<br>C)efficiency.<br>D)terms
Q23: How do economists begin building an economic
Q26: Which of the following reflects the downward-sloping
Q59: What happens at the equilibrium price?<br>A)Buyers have
Q87: Inflation increases the value of money.
Q113: When a production possibilities frontier shifts outward,
Q136: How can trade benefit a family?<br>A)by allowing