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Term1/16
What is the amount of a good or service that a consumer is willing to buy called
Definition1/16

Demand is considered what consumers are willing and able to buy. If the product or service is too expensive, then people won't buy it because they can't afford it and there will be no demand. If it's affordable but people don't see the use, they still won't buy it and there will still be no demand. In order to create demand, a product has to be both useful and affordable. The more useful and affordable it is, the more demand there will be.

Term1/16
Under this economic theory the government does not get involved in the economy
Definition1/16

Laissez-Faire

Term1/16
This type of economics addresses the question what is
Definition1/16

Pure economics addresses this question.

Term1/16
In which direction does the demand curve on a graph slant
Definition1/16

Downward left to right

Term1/16
In this department the Food Safety and Inspection Service inspects food and meat processing plants to make sure the products are safe for consumers
Definition1/16

Agriculture

Term1/16
Which of these should happen in order for a country to increase capital effectively
Definition1/16

More money invested and/or saved.

Term1/16
Why do small banks in remote locations sometimes become a subsidiary of a larger bank
Definition1/16

To offer more services to the general puclic

Term1/16
What do the inner arrows of the circular flow model represent
Definition1/16

flow of money payments(Kaylop)
Factor services ( From household to firms) &

Goods & Services (From firms to households).

[in a 2 sector economy)

Term1/16
The interaction of the producer and the consumer establishes a price
Definition1/16

True.

Term1/16
Only one person is liable if the business fails
Definition1/16

proprietorship

Term1/16
This type of economics addresses the question how can you achieve the goals that have been established
Definition1/16

Applied Economics A+

Term1/16
What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes
Definition1/16

Treasury

Term1/16
Supply creates a demand
Definition1/16

False(Kaylop)

Term1/16
Which term applies to this definition
Definition1/16

The total output of a group of individuals and the entire economy will increase when each good is produced at the lowest cost.

Term1/16
To which person would this event be of concern A business because the old-growth forest was not cut down
Definition1/16

economist

Term1/16
Which term applies to this situation failure to return a book to the library on time an paying a fine
Definition1/16

Secondary Effect

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Cards in this guide (16)
What is the amount of a good or service that a consumer is willing to buy called

Demand is considered what consumers are willing and able to buy. If the product or service is too expensive, then people won't buy it because they can't afford it and there will be no demand. If it's affordable but people don't see the use, they still won't buy it and there will still be no demand. In order to create demand, a product has to be both useful and affordable. The more useful and affordable it is, the more demand there will be.

Under this economic theory the government does not get involved in the economy

Laissez-Faire

This type of economics addresses the question what is

Pure economics addresses this question.

In which direction does the demand curve on a graph slant

Downward left to right

In this department the Food Safety and Inspection Service inspects food and meat processing plants to make sure the products are safe for consumers

Agriculture

Which of these should happen in order for a country to increase capital effectively

More money invested and/or saved.

Why do small banks in remote locations sometimes become a subsidiary of a larger bank

To offer more services to the general puclic

What do the inner arrows of the circular flow model represent

flow of money payments(Kaylop)
Factor services ( From household to firms) &

Goods & Services (From firms to households).

[in a 2 sector economy)

The interaction of the producer and the consumer establishes a price

True.

Only one person is liable if the business fails

proprietorship

This type of economics addresses the question how can you achieve the goals that have been established

Applied Economics A+

What department operates US Custom Service that collects duties on imports combats smuggling and other international crimes

Treasury

Supply creates a demand

False(Kaylop)

Which term applies to this definition

The total output of a group of individuals and the entire economy will increase when each good is produced at the lowest cost.

To which person would this event be of concern A business because the old-growth forest was not cut down

economist

Which term applies to this situation failure to return a book to the library on time an paying a fine

Secondary Effect

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