Cards in this guide (25)
What has made voters more informed
Technological advancements can improve productivity by doing which of the following
Developing machines that reduce the human effort needed to
produce goods and services.
Which of the following is happening when the GDP is neither rising nor falling
What best describes the incentive for producers to conduct market research
The desire to know what consumers want.
Which of the following are useful for conducting market research
Focus groups Focus groups
What is the purpose of economic indicators
To judge the overall condition of a particular country's
economy.
In economics workers are both producers and what
What best explains why competition is an important part of a free-market system
C. Without competition, people wouldn't have a lot of choices.
Which of the following best explains why property rights are necessary in a free-market system
Property rights allow consumers and producers to make free
choices
Which of the following is a reason why peer pressure influences consumers
People often compare themselves to others.
In the game of economics every person alive plays the role of which
What directly generates revenue for a business
Output directly generates revenue for business.
Output
Which of the following explains why companies spend money on advertising
Companies want to influence consumer behavior through
advertising.
Which of the following best explains why different people have different levels of risk aversionWhich of the following best explains why different people have different levels of risk aversion
Some people are willing to take more chances than others.
Which of the following pairs of words best describes using cost benefit analysis maximizing and minimizing
Which best describes a situation where the goal growth is being pursued
The government establishes a retirement program for its
citizens.
What do economists use to measure the personal satisfaction someone gets from consuming goods and services
Utility because it's a term in economics that refers to the total satisfaction received from consuming a good or service.
Which of the statement below best explains why buget is useful
budgets help people reach their financial goals
Which of the following is not something that consumers need to pay attention to order to make rational choices
In a socialist society the government does not do which of the following
provides freedom of choice for producers
Utility is the concept that economists use to measure the a person gets from the use or consumption of goods and services.
Which of the following would result in an increase in GDP apex
Greater levels of iinvestment
Which group of people was most directly affected by the Nineteenth Amendment
Who of the following best explains how a free-market system has a circular flow of influences
Consumer decisions affect producers, and producer decisions affect consumers
What people would be considered a noncitizen in the US
People who are here illegally, visitors, and people not born in
the United States are not citizens.
