Day 17

When you have completed Chapter 3, you will be able to:

  • Identify the basic economic problem.
  • Describe how America’s private enterprise economy works.
  • Explain microeconomics and the concept of consumer demand.
  • Identify factors that affect supply and its relationship to demand.
  • Define pure competition and monopoly.
  • Explain the characteristics oligopolies and monopolies.
  • Define four types of economic utility.
  • Explain how marketers use utility to increase customer satisfaction.

Chapter 3 Review

  1. Utilize this review to assess your learning from Chapter 1.  You have 10 attempts to get as good of a score as you can.  You are free to use the online textbook above when going through this review.