Cards in this guide (24)
Why does globalization lead to a reduction in wages in developed countries
Increased mobility allows producers to move jobs to lower-cost
labor markets.
Which of the following best explains why the game of economics cannot eliminate scarcity
There are not enough resources to produce all of the goods and
services that everyone wants.
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!
A mixed economy is a combination of which of the following economic systems
What is a socialist country in which the government owns health care and communications
The Socialist Republic of Vietnam.
Because calculations of cost and benefit are subjective they can be described as
Vary from one person to another.
What are the key influences in your daily economic decisions
scarcity is basically the main thing that influences peoples
decisions daily
Which of the following best explains why the game of economics does not have a signal goal
Which of the following is essential part of making rational choice
Doing cost-benefit analysis
Does globalization cause poverty
Globalization does not cause poverty, on the other hand,
globalization lifted many people out of poverty and created a solid
middle class in many developing countries. India and China are
example. Globalization may have caused financial hardship for many
westerners since many jobs were shipped overseas because of cheap
labor.
What is the benefit of greater organization
Which of the following economic indicators would be most useful for figuring out whether the economy is growing quickly of slowly
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
