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☆☆☆☆☆Cards in this guide (15)
What is an essential commodity needed for the productive process
labor
What describes a situation in which the price of a good would fall
the community is crazy
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
When consumers get more money they tend to substitute normal goods for what goods
When consumers get more money, they tend to substitute normal goods for _inferior_ goods.
Why do people gamble online
People chose to gamble online for various reasons:
- They do not live near a casino
- They do not like crowds of people
- They do not like the smoke
- The legal age to gamble online is 18+
- Some land based casinos require you to be 21+
- An online casino may have an attractive bonus
Best explains the purpose of protectionist trade policies such as tariffs and subsidies
nnnnnnnn
Which of the following is another term for market clearing price
equilibrium price
What describes the situation that occurs when the equilibrum quantity has been reached
There is no surplus or shortage.
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 followiwng is a charcteristic of the factors of production
which of the following is a characteristic of the factors of production
Which of he following is an advantage of a partnership
Specialization. A+
Which of the following accurately describes the effect of a situation of scarcity
Jjj
What if the following describes a situation in which there would be a decreasing marginal utility
Buying a second winter coat.
Which of the following is an example of expansionary fiscal policy
cutting taxes
Match each organization with its correct relationship to the government
A. Social security _ government agency
B. U.S. Postal Service _ government corporation
C. Boeing _ government contractor
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