theme 2 chap 9
What is the primary focus of Chapter 9 in Theme 2?
Understanding economic theories
Which economic concept is introduced in Chapter 9?
Supply and demand
What historical example is used to explain economic principles in Chapter 9?
The Great Depression
What role does government policy play in the economic models discussed in Chapter 9?
It regulates market competition.
Which of the following is a key takeaway from Chapter 9?
Understanding the balance between supply and demand.
What type of market structure is emphasized in Chapter 9?
Perfect competition
According to Chapter 9, what happens when supply exceeds demand?
Prices decrease
What is often considered a limitation of the economic theories in Chapter 9?
They ignore technological advancements.
In Chapter 9, what is described as a factor influencing consumer behavior?
Income level
Which graph is commonly used in Chapter 9 to illustrate economic principles?
Supply and demand curve