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Economics

Elian Collins ∙

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Term1/14

Why does scarcity exist in an economy

Definition1/14

*there are not enough resources to produce everything people want*

Term1/14

Which economic system favors decisions by consumers but allows for some central planning

Definition1/14

Mixed Capitalism

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Caveat emptor means that the producer will be protected against fraudulent business practices but must protect the consumer

Definition1/14

false

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The federal government greatly influences education

Definition1/14

Social institutions

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Which is the best description of Jacksonian Democracy

Definition1/14

A Jacksonian Democracy is best described as a democracy by the people.

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Which of these represents a market economic system

Definition1/14

By buying or not buying goods and services, consumers provide answers to the basic economic questions

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The difference between what the workers produce and what they earn is surplus value

Definition1/14

Surplus value is the difference between the value that workers produce and what they are paid in wages.

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Which of the following statuses would probably be considered a master status for an individual

Definition1/14

Governor of a state

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In the circular flow of goods and services what does the government use money payments to provide

Definition1/14

Goods and services

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The Hartington Cardinals will meet the Pecan Valley Bobcats in the state high school championship football game a week from today

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a competative interaction

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A married couple decides to meet with an architect to discuss the design of their

Definition1/14

a rational action

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What is the best description of synergy

Definition1/14

The best description of synergy is the interaction of elements that when combined produce a total effect that is greater than the sum of the individual elements. An example of this would be how well people cooperate in a group.
how well people cooperate in a group

Term1/14

Which if the following is not a description of a role

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A role refers to the social standing of a person in a society or a group

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The basic problems of scarcity and allocation of limited resources are solved by production for use or need rather than production for profit.

Definition1/14

Socialism (A+)

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Cards in this guide (14)

Why does scarcity exist in an economy

*there are not enough resources to produce everything people want*

Which economic system favors decisions by consumers but allows for some central planning

Mixed Capitalism

Caveat emptor means that the producer will be protected against fraudulent business practices but must protect the consumer

false

The federal government greatly influences education

Social institutions

Which is the best description of Jacksonian Democracy

A Jacksonian Democracy is best described as a democracy by the people.

Which of these represents a market economic system

By buying or not buying goods and services, consumers provide answers to the basic economic questions

The difference between what the workers produce and what they earn is surplus value

Surplus value is the difference between the value that workers produce and what they are paid in wages.

Which of the following statuses would probably be considered a master status for an individual

Governor of a state

In the circular flow of goods and services what does the government use money payments to provide

Goods and services

The Hartington Cardinals will meet the Pecan Valley Bobcats in the state high school championship football game a week from today

a competative interaction

A married couple decides to meet with an architect to discuss the design of their

a rational action

What is the best description of synergy

During this event a country stops all trade with another country

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Economics

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Economics

What is an ascribed status

What generates a demand for goods and services

Which economic system calls for a maximum of collective ownership

In this economic function the government attempts to correct for market failures like monopolies

Economics

In both the socialist and communist systems the government will have a large influence on the economy

In this form of government there is rule by only one person

Since the 1980s what has happened to the US share of domestic car sales

Under what heading did the social programs of the 1930s come

Economics

In the circular flow of goods and services what does the product market represent

In the circular flow of goods and services what does the resource market represent

In which type of economy are choices made by consumers

Which of these is the best description of perception

Economics

Under the provisions of which amendment did former slaves become citizens

The growth of technology has had little effect on the amount of goods and services produced in other countries

This term refers to the behaviors that are prohibited in a group

Which of these represents a market economic system

Economics

In both the socialist and communist systems the government will have a large influence on the economy

In this form of government there is rule by only one person

Since the 1980s what has happened to the US share of domestic car sales

During this event a country stops all trade with another country

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