Name: QUESTION #: QUESTION: 1. What basic economics knowledge and/or vocabulary are necessary to correctly answer this question? Briefly DEFINE those vocabulary terms. 3. Write out a COMPLETE explanation of the steps taken to correctly answer this question. QUESTION #: 2. Draw and completely label any graphs, charts or formulas that may be applicable to this question. 4. Identify your specific reason(s) for getting this question incorrect. QUESTION: 2. What basic economics knowledge and/or vocabulary are necessary to correctly answer this question? Briefly DEFINE those vocabulary terms. 3. Write out a COMPLETE explanation of the steps taken to correctly answer this question. 2. Draw and completely label any graphs, charts or formulas that may be applicable to this question. 4. Identify your specific reason(s) for getting this question incorrect.