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What describes an efficient outcome?
A car is designed to waste as little fuel as possible.
What is normative economics?
Normative economics is the idealized part of economics that encompasses value judgments about economic fairness. It typically concerns what the outcome of an economy or what public policy ought to be.
Which statement would best complete a short definition of economics ''Economics is the study of .........''?
The efficient use of scarce productive resources.
What best describes laissez-faire capitalism?
The separation of economics and state
What describes the efficiency function of economics?
The government oversees the production of goods and services. (A+)
What describes an efficient outcome?
A car is designed to waste as little fuel as possible.
What describes efficient outcome?
A car is designed to waste as little fuel as possible.
Give an example of an outcome in the game of economics?
Increased sales which translates to increased revenues is an example of an outcome in the game of economics. There is usually circulation of currency in such an economy.
Which describes the outcome of the siege of Petersburg?
A
What is normative economics?
Normative economics is the idealized part of economics that encompasses value judgments about economic fairness. It typically concerns what the outcome of an economy or what public policy ought to be.
Which statement would best complete a short definition of economics ''Economics is the study of .........''?
The efficient use of scarce productive resources.
What best describes capital?
The separation of economics and state
What describes someones expected outcome from investing the stock market?
Making profit from savings, describes someone's expected outcome from investing in the Stock Market. Making profit from savings
What describes someone's expected outcome from investing in the stock market?
Making profit from savings, describes someone's expected outcome from investing in the stock market. Making profit from savings
What best describes laissez-faire capitalism?
The separation of economics and state
What Best describes the goal of economics efficiency?
achieving full employment
What best describe an efficient outcome?
a car is designed to waste as little fuel as possible
