econ questions 6

1.Be able to describe barriers to entry into a market

2.Be able to discuss the effects of an increase in the cost of inputs in a market

3.Be able to explain the effects of government regulation on monopolies. You will need a specific example…

4.How can business owners attract qualified laborers and prevent employee turnover? What impact have labor unions had on workers and businesses?

5.Do you think the advantages of owning a franchise outweigh the disadvantages?

6.Which criteria do economists use to determine whether a person is employed or unemployed?

7.Understand how to read the Lorenz Curve and what it means Explain the impact of future expectations on the current economy

8.Why should a country engage in trade rather than try to produce everything on its own?

9Explain a scenario where a country has a large amount of wealth but is still considered a less developed country (LDC).