Read and, if necessary, reread the above lecture. Complete the homework assignments through the level in which you choose to enroll in this course:
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Read and, if necessary, reread the above lecture. Complete the homework assignments through the level in which you choose to enroll in this course (the extra credit question at the end can be answered by anyone):
1. A consumer's overall satisfaction is expressed in economics as his _________________.
1. A consumer's overall satisfaction is expressed in economics as his _________________.
Line 169:
Line 169:
6. Describe either the "income effect" or the "substitution effect." Take your pick.
6. Describe either the "income effect" or the "substitution effect." Take your pick.
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7. Charity is based on the foundation of a successful free market. Or is a successful free market based on a foundation of charity? Describe and explain which is the cart, and which is the horse (in other words, which comes first or is most important, charity or the free market).
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7. Charity is based on the foundation of a successful free market. Or is a successful free market based on a foundation of charity? Describe and explain which is the "cart", and which is the "horse" (in other words, which comes first or is most important, charity or the free market).