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Economics

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Vickie Schuster

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Cards in this guide (19)
Economics is about allocating resources to produce and distribute which of the following

Goods and services

The two forms of technology are better devices and improved

The two forms of technology are better devices and improved method.Better devices and improved methods.

Which of the following are useful for conducting market research

Focus groups Focus groups

Which statements best explains why producers conduct market research

Market research helps producers earn more profits.

What was the goal of nativists

To stop immigration =APEX

What is the most direct benefit of greater productivity

Goods and services are produced faster, which should reduce costs and improve company profits. Additionally, consumers should benefit from lower prices and increased availability.

Which of the following terms best characterizes cost-benefit analysis

Rational

What describes an efficient outcome

A car is designed to waste as little fuel as possible.

What concept do economists use to measure the satisfaction a person gets from the use or consumption of goods and services

The concept of utility is a measure of consumer satisfaction.

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

Evaluation

How were slaves affected by the new republic

Some northern states made slavery against the law.

What was one argument against immigration

Immigrants used public services but didn't pay taxes.

What did the Eighteenth and nineteenth century Romantics called the Dismal Science

Economics was called the dismal science.

Which of the following is another term for a planned economy

socialist system

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

Stagnation

Which best explains how budgeting helps consumers reach their financial goals

Budgets allow consumers to control how much money they have going out for expenses.

Which of the following best demonstrates the way consumers and producers influence each other in the free market system

A circular model

Which of the following are not features of all games

-Winners

-Positions

-Teams

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