Cards in this guide (15)
What is the amount of a good or service that a consumer is willing to buy called
Demand is considered what consumers are willing and able to buy.
If the product or service is too expensive, then people won't buy
it because they can't afford it and there will be no demand. If
it's affordable but people don't see the use, they still won't buy
it and there will still be no demand. In order to create demand, a
product has to be both useful and affordable. The more useful and
affordable it is, the more demand there will be.
Which axis of a graph will always run vertically from the bottom to the top of the page
The y axis always runs vertically.
This type of economics addresses the question what is
Pure economics addresses this question.
In which direction does the demand curve on a graph slant
In this department the Food Safety and Inspection Service inspects food and meat processing plants to make sure the products are safe for consumers
Which of these should happen in order for a country to increase capital effectively
More money invested and/or saved.
What type of view of economics did the rational expectation school of economics headed by lucas and sargent take
What do the inner arrows of the circular flow model represent
flow of money payments(Kaylop)
Factor services ( From household to firms) &
Goods & Services (From firms to households).
[in a 2 sector economy)
All economic systems are concerned with which of these same problems
what, how, how much, and for whom to produce
Only one person is liable if the business fails
If supply exceeds demand for a product what economic explanation occurs
Depreciation is a very important economic problem and needs to be used in accounting for what purpose
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
Economic theory helps us to understand events in the real world of daily living.
