2.6: Problem Sets

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The problem sets in this course are openly licensed, and are available as-is, or can be modified to suit your students’ needs. In these problem sets, students are given an opportunity to apply the quantitative-reasoning skills they learned throughout the module.

Answer keys are available to faculty who adopt Waymaker, OHM, or Candela courses with paid support from Lumen Learning. This approach helps us protect the academic integrity of these materials by ensuring they are shared only with authorized and institution-affiliated faculty and staff.

This course contains problem sets that accompany each module. In these problem sets, students are given an opportunity to apply the quantitative-reasoning skills they learned throughout the module.

The problem sets are derivatives from the practice questions that are scattered throughout the course for practice–sometimes housed within a content page or sometimes found on a separate page titled “Learn By Doing.” If students complete the practice questions, which allow unlimited attempts with various numbers, they may have already encountered the majority of the questions in the problem sets.

Module Problem Set

1: Economic Thinking

Assignment: Economic Thinking Problem Set

2: Choice in a World of Scarcity

Assignment: Choice in a World of Scarcity Problem Set

3: Supply and Demand

Assignment: Supply and Demand Problem Set

4: Applications of Supply and Demand

Assignment: Applications of Supply and Demand Problem Set

5: Elasticity

Assignment: Elasticity Problem Set

6: Utility

Assignment: Utility Problem Set

7: Production and Costs

Assignment: Production and Costs Problem Set

8: Perfect Competition

Assignment: Perfect Competition Problem Set

9: Monopoly

Assignment: Monopoly Problem Set

10: Monopolistic Competition and Oligopoly

Assignment: Monopolistic Competition and Oligopoly Problem Set

11: Public Goods and Externalities

Assignment: Public Goods and Externalities Problem Set

12: Labor Markets

Assignment: Labor Markets Problem Set

13: Income Distribution

Assignment: Income Distribution Problem Set

Assignment: Globalization and Trade Problem Set

15: Exchange Rates and International Finance

Assignment: Exchange Rates and International Finance Problem Set