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Markets, Efficiency, and Price Signals (Crash Course)
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Markets, Efficiency, and Price Signals (Crash Course)
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13 Questions

1. What is allocative efficiency?

2. What can a company guess by the fact that people are willing to pay high prices for something?

3. What are two ways companies can get an idea of what consumers want?

4. In the Soviet Union, what was being produced a lot instead of consumer goods?

5. What is another name for predatory pricing?

6. How can people push companies to do better for society, environment, etc?

7. In economies with the Government as central Planners, why might the people not be getting what they want?

8. Why is Mr. Waldfogel not a fan of holiday gift giving?

9. Who said Nobody spends someone else's money as carefully as he spends his own?

10. What is production efficiency?

11. What is predatory pricing?

12. What is price gouging?

13. What company has often been accused of predatory pricing?

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