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listening 1

An introduction to economics

Pre-listening questions 

Before answering the questions watch this short video by professor Dennis Meyers.



1. In economics, what do the terms supply and demand mean?

a. The definition of supply is:

b. The definition of demand is:

c. Where did you find the information?


2. Which of the following do economists study?

a. The prices of goods and services
b. If prices are fair or unfair.
c. Why some countries are rich and others are poor.
d. The effects of technological changes on firms and consumers.
e. The best way to invest your money.
f. Government policy on taxation.