Study Guide for Exam I

·         Be able to draw the free price system- Completely Labeled and Explained Correctly

·         Know how to move the demand and supply curves

·         Know the  Demand Shifters

·         Know the Supply Shifters

·         Understand Quantity Demanded/ Quantity Supplied Changes

·         Understand what Shortages & Surpluses are

·         Be able to create a free price system using a schedule

·         Understand Labor Markets (Be able to illustrate)

·         Be able to explain the benefits of Foreign Direct Investment

·         Know how a strong and weak dollar are created

·         Know the advantages and disadvantages of the weak dollar

·         Be able to explain the perceived costs of International Trade (Cons of Trade)

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