Cards in this guide (24)
Which kind of economic system does a capitalist country have
A system where production takes place for the sake of profit, where most people have to work for wages, and a tiny minority live very well off rent, interest and profit .
The government does which of the following in a planned economy
According to the circular flow model which of the following do producers provide to consumers
Which of the following is happening when the GDP is neither rising nor falling
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 economic systems leaves production decisions competely up the producers
What best describes what labor directly contributes to production
human effort and ideas drive production
The combination of 4ps in marketing is called
Must What must an activity have in order to be considered a game
A set of rules
One or more players
Best explains what makes allocation decisions necessary
There are never enough goods and services to satisfy wants and
needs
Which of the following pairs of words best describes using cost benefit analysis maximizing and minimizing
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.
Because of the unlimited liability of all partners a general partnership most closely resembles which other business types
A proper cool down routine does
Helps the body adjust back to a resting state.
The way a company does business is driven by
What best explains how free choice is protected in a free market system
The governmentmakes & enforces whatever laws are needed to
garuntee free choice.
Which of the following best explains why the game of economics does not have a signal goal
What results from the fact that free market system is based on the free choices of consumers and producers
The free-market system has a circular flow of influence.
How will improvements in technology effect economics in the future
Well we make better infrastructure and better buildings.
Which of the following economic indicators measures the overall value of goods and services
What kind of economic system does a socialist country have
Which of the following best explains what market forces are
the properties of a free-market system that determine what the
outcomes will be
In a command economy the government does not do which of the following
decides how much consumers buy
Utility is the concept that economists use to measure the a person gets from the use or consumption of goods and services.
