WEST
HILLS COLLEGE
ECONOMICS
OPEN BOOK/OPEN NOTES
REMEMBER TO BRING A SCANTRON.
The test will be (about)
30% multiple choice
25% graphs
25% short answers
20 % true false
No Vocabulary
This guide is a little brief because the test
itself is open book.
Some of the subjects covered include:
fixed inputs and variable inputs
Assumptions of the Market Models
Graphs especially for
equilibrium positions for the Perfectly
Competitive Model and the Monopoly Model
Types of Barriers to Entry
Problems with Monopolies
Price Discrimination
Examples of Monopolistic Competition
Cartels and Cheating
Issues around regulation of Monopolies and Cartels
THERE IS NOT MUCH ON THE TEST DIRECTLY RELATED TO CHAPTER 21. BUT CHAPTER 21 SETS THE STAGE FOR LATER WORK BY DEFINING TERMS.
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