The Reason Economists Create a Market Basket Is To

question 101

Multiple Choice

The reason economists create a market basket is to:

• A) track its changing prices to reflect changes in purchasing patterns of firms.
• B) see how the cost of buying the goods and services on the list changes over time.
• C) know how each individual consumer is being affected by changing prices.
• D) get a sense of how people buy items on a weekly basis.

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Definitions:

Polar

A description of a molecule with a distribution of electric charge leading to one end being positively charged and the other end negatively charged.

Carbohydrates

Organic compounds consisting of carbon, hydrogen, and oxygen, usually in the ratio of 1:2:1, providing energy through metabolism.

Lipids

A broad group of naturally occurring molecules that include fats, oils, waxes, and certain vitamins, characterized by their insolubility in water but solubility in organic solvents.

Disaccharide

A carbohydrate made up of two monosaccharide molecules bonded together, examples include sucrose and lactose.