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Term1/20
Why would building shipyards be an important part of Japans plan to become a major trading power in the world
Definition1/20

Trade goods are carried in ships. You can't be a major trading nation without ships. The cheapest way to obtain ships is to build them. Michael Montagne

Term1/20
When was Thorstein Veblen born
Definition1/20

Thorstein Veblen was born on July 30, 1857.

Term1/20
What is the purpose of tableau
Definition1/20

tableau's purpose is to tell a story or convey a message

Term1/20
Which American industrialist first used the assembly line to manufacture cars
Definition1/20

Ransom E. Olds mass produced the Curved Dash Olds Runabout from 1901 to 1904 on an assembly line.

Term1/20
Which process can be viewed in the modern automobile factory method popularized by Henry Ford
Definition1/20

specialization A+ the last guy was wrong

Term1/20
Who was one of the first economists to write about the division of labor
Definition1/20

Sir William Petty

Term1/20
Which economist believed that the division of labor could cause workers to become generally more ignorant
Definition1/20

Adam Smith.

Term1/20
Which of these methods calculates the market value of all final goods and services produced within a country's borders in a given year
Definition1/20

Gross Domestic Product

Term1/20
Who coined the economics term conspicuous consumption
Definition1/20

Thorstein Veblen

Term1/20
Which of these describes the principle of division of labor
Definition1/20

People are trained to do specific portions of a task in order to speed production of the total task. A+

Term1/20
Which of these is not a benefit of using an assembly line to produce goods
Definition1/20

it allows workers to only learn one task A+

Term1/20
Which pioneer in the automobile industry implemented the modern version of the assembly line
Definition1/20

henry ford

Term1/20
According to the law of diminishing returns what will happen if you overuse a factor of production
Definition1/20

It will not be as efficient as before. A+

Term1/20
Which level of government is income tax imposed
Definition1/20

Federal and State

Term1/20
In the circular flow model firms compensate households with which items
Definition1/20

households

Term1/20
According to Quesnay which class created no economic wealth
Definition1/20

wealthy landowners A+

Term1/20
The nation's economic health is currently calculated by using what
Definition1/20

Gross Domestic Product

Term1/20
What was not a belief of Adam Smith
Definition1/20

Specialization would lead the worker to become depressed spiritually and physically.

Term1/20
Which economists published the Tableau économique
Definition1/20

François Quesnay

Term1/20
The works of which economist lead to a more quantitative study of economics
Definition1/20

François Quesnay

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Cards in this guide (20)
Why would building shipyards be an important part of Japans plan to become a major trading power in the world

Trade goods are carried in ships. You can't be a major trading nation without ships. The cheapest way to obtain ships is to build them. Michael Montagne

When was Thorstein Veblen born

Thorstein Veblen was born on July 30, 1857.

What is the purpose of tableau

tableau's purpose is to tell a story or convey a message

Which American industrialist first used the assembly line to manufacture cars

Ransom E. Olds mass produced the Curved Dash Olds Runabout from 1901 to 1904 on an assembly line.

Which process can be viewed in the modern automobile factory method popularized by Henry Ford

specialization A+ the last guy was wrong

Who was one of the first economists to write about the division of labor

Sir William Petty

Which economist believed that the division of labor could cause workers to become generally more ignorant

Adam Smith.

Which of these methods calculates the market value of all final goods and services produced within a country's borders in a given year

Gross Domestic Product

Who coined the economics term conspicuous consumption

Thorstein Veblen

Which of these describes the principle of division of labor

People are trained to do specific portions of a task in order to speed production of the total task. A+

Which of these is not a benefit of using an assembly line to produce goods

it allows workers to only learn one task A+

Which pioneer in the automobile industry implemented the modern version of the assembly line

henry ford

According to the law of diminishing returns what will happen if you overuse a factor of production

It will not be as efficient as before. A+

Which level of government is income tax imposed

Federal and State

In the circular flow model firms compensate households with which items

households

According to Quesnay which class created no economic wealth

wealthy landowners A+

The nation's economic health is currently calculated by using what

Gross Domestic Product

What was not a belief of Adam Smith

Specialization would lead the worker to become depressed spiritually and physically.

Which economists published the Tableau économique

François Quesnay

The works of which economist lead to a more quantitative study of economics

François Quesnay

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