What This Document Is
This document is a practice midterm for EC 101, Introductory Microeconomic Analysis at Boston University. It’s designed to help students assess their understanding of core microeconomic principles covered in the course leading up to the first midterm exam. The format mirrors a typical midterm, featuring multiple-choice questions.
Why This Document Matters
This practice midterm is a valuable resource for students enrolled in EC 101. It provides a realistic preview of the exam’s question style, difficulty, and content focus. Utilizing this practice test allows students to identify knowledge gaps and refine their study strategies *before* the actual midterm, potentially improving their performance. It’s most effectively used as a self-assessment tool after completing assigned readings and attending lectures.
Common Limitations or Challenges
This practice midterm is *not* a substitute for comprehensive studying. It represents a sample of potential questions and does not cover every possible topic that may appear on the actual exam. Furthermore, it does not include detailed explanations of the correct answers – its primary function is diagnostic, not instructional. Students will still need to consult course materials and seek clarification from instructors to fully grasp the concepts.
What This Document Provides
This practice midterm includes 13 multiple-choice questions covering topics such as: supply and demand, consumer choice (indifference curves, marginal rate of substitution), price elasticity of demand, and determinants of demand and supply. The questions utilize both textual scenarios and graphical representations (diagrams) to test understanding. This preview *does not* include the answer key or detailed solutions. It also does not cover all topics that will be on the actual midterm.