Solve: x + y = 10, x - y = 4
Hint: Add the equations to eliminate y
Solve: 2x + y = 7, x - y = 2
Hint: Add the equations to eliminate y
Solve: x + y = 5, 2x + y = 8
Hint: Subtract the first equation from the second
Solve: y = 2x, x + y = 9
Hint: Substitute 2x for y in the second equation
Solve: 3x + 2y = 12, x - y = 1
Hint: From the second equation x = y + 1, substitute into the first
Solve: x + 3y = 7, 2x + y = 4
Hint: Multiply the first equation by 2, then subtract
Solve: y = x + 1, y = -x + 5
Hint: Set the two y expressions equal: x + 1 = -x + 5
Solve: 2x - y = 1, x + y = 5
Hint: Add the equations to eliminate y
What is a mixed economy?
What is socialism?
What is the difference between capitalism and socialism regarding private property?
What is the role of profit in a market economy?
What did Friedrich Hayek argue about central planning?
Hint: From 'The Road to Serfdom' and 'The Use of Knowledge in Society'
What is a public good?
What is a market failure?
What is an externality?