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Economics

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Sibyl Quitzon

Lvl 9
โˆ™ 2021-10-15 18:36:02
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Cards in this guide (27)
What happens when demand for a good increases but its supply decreases

The price for the good increases.

What is one of the disadvantages of getting a government-sponsored mortgage

Government mortgages put a limit on the purchase price of a house. Government mortgages take a long time and a lot of paperwork to get approved.

Which of these is an example of a fixed expense

Rent

food

car payment

electric bill

Using a budget is a good way to what

Stay out of debt

What does an amortization table show

``````````The principle and interest being paid on a loan`````````

What makes a credit card more convenient than a debit card

It can be used to buy things without immediate payment.

What kind of a credit card can customers with a bad credit history get

One that's secured by collateral

Which of these most accurately describes the costs and benefits of using a credit card

Credit cards are convenient but can result in debt.

Why does a savings account make a better investment than a checking account

Savings accounts earn interest.

Maintaining a good credit history makes it easier to do what

Get a loan

Which of these allows someone to buy a car that costs more than he or she can afford

CAR Loan

Why is a fractional reserve banking system necessary

To enable banks to loan out money to make a profit

How does use of cargo containers benefit the economy

The use of cargo containers benefit the economy by keeping distribution costs low.

If your prediction is proven incorrect you should leave out all observations that don't support your prediction or simply change your prediction

both

Consumers use cost-benefit analysis in order to maximize what

Consumers use cost-benefit analysis in order to maximize utility.

When does Country A have a comparative advantage over Country B in the production of televisions

Country A has a lower opportunity cost for producing televisions.

The government sets a price floor in order to protect what

A vulnerable industry

Why is buying a house a better investment than renting an apartment

Renting an apartment is not an investment.

Mortgage payments increase the home-owner's equity.

What do banks do with some of the profits they make by loaning out the money in their customers savings accounts

They invest the money in high interest money markets and various other accounts. They don't loan out their customer's savings accounts, they loan out the money they make off these accounts.

Why might a company respond to a letter writing campaign launched by a group of concerned consumers

The letters contain a veiled threat that economic pressure could follow

What is a form of self-help financial aid

Student loans

What government policies pursues the economic goal of freedom

Freedom is not a goal of economics, but there is economic freedom that allows all members,of a society to attain economic viability.

What describes the kinds of decisions that result from using cost-benefit analysis

An outcome with benefits that are greater than the costs.

How can consumers get the government to pass laws preventing companies from engaging in offensive behaviors

By lobbying

What states one opportunity costs of attending college

Takes time away from having a paying job

The government needs to provide to provide public goods for what reason

private companies can not benefit by providing them

Match each of the terms below with an example that fits the term.

Idk

I dont know

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