Cards in this guide (23)
Economics is about allocating resources for doing which of the following processes involving goods and services
Production and distribution
Technological advancements can improve productivity by doing which of the following
Developing machines that reduce the human effort needed to
produce goods and services.
When the gross domestic product is neither growing nor shrinking a country's economy is doing what
Calculations of cost and benefit are always which of the following
Which of the following best describes the kinds of decisions that result from using cost-benefit analysis
An outcome with benefits that are greater than the costs.
Which of the following best explains why the circular flow model characterizes the free-market system
Consumers and producers influence each other in a circular
fashion.
The Gross Domestic Product goes down when which of the following occurs
Imports increase faster than exports.
What questions must be asked about the use of resources in an economic system
What is the most effective allocation?APEX!
In economics workers are both producers and which of the following
The combination of 4ps in marketing is called
Which of the following is and advantage of partnerships over sole proprietorships
Partnerships generally have more money to invest in starting or
expanding a business.
The way a company does business is driven by
Which of the following best explains why the game of economics does not have a signal goal
Which best explains why resources need to allocated in the game of economics
Resources must be allocated because there are not enough
resources to produce all of the goods and services that everyone
wants.
Which of the following economic indicators would be most useful for figuring out whether the economy is growing quickly of slowly
Which best describes a situation where the goal growth is being pursued
The government establishes a retirement program for its
citizens.
Which can best explains why some economic goals are incompatible with each other
People are often in conflict over what they want.
What is debit to equity ratio
Debt to equity ratio is a measurement criteria to measure how
much debt is used in business as compare to owner's capital to
finance the business.
What must be a feature of an activity for it to be a game
The need to get goods from producers to consumers raises what basic questions
How are goods and services distributed
Which of the following is an example of a production decision ...
Science can be used to predict the effects of the dam on wildlife.
Which of the following is another term for a planned economy
Economics is about doing with the resources when it comes to the production and distribution of goods and services
