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Economics

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Ethel Hauck

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Cards in this guide (16)
Describe the difference between additional and standard precaution

describe the difference between additional and precaution?

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

Which of the following is necessary for hiring workers and organizing production

Businesses

Which of the following best describes the purpose of advertising

to transmit product messages to an audience

Which of the following is a reason why peer pressure influences consumers

People often compare themselves to others.

In the game of economics workers play a double role functioning as both consumers and

In the game of economics, workers play a double role, functioning as both consumers and producers
Consumers and producers

Which of the following explains why companies spend money on advertising

Companies want to influence consumer behavior through advertising.

Match each type of corporation with a real-world example of that type of business

public corporation

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.

In economics All goods and services that exist must be made by

workers

Consumers influence the decisions of producers in which of the following way

through the purchasing decisions they make

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 following is another term for a planned economy

socialist system

Which of the following accurately explains how profit is calculated (Apex)

cost are subtracted from revenues

Which if the following is not a goal pursued in the game of economics

Stagnation

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