Cards in this guide (22)
Economics is about allocating resources for doing which of the following processes involving goods and services
Production and distribution
Which of the following best explains why the game of economics cannot eliminate scarcity
There are not enough resources to produce all of the goods and
services that everyone wants.
What cannot be done by the government in a command economy
deciding what goods consumers buy
What is an example of an allocation decision
Coal is set aside to burn as heating fuel.
Which of the following is not an economic goal
A capitalist country has which of the following economic systems
What best describes the incentive for producers to conduct market research
The desire to know what consumers want.
Which of the following best explains why the circular flow model characterizes the free-market system
Consumers and producers influence each other in a circular
fashion.
What questions must be asked about the use of resources in an economic system
What is the most effective allocation?APEX!
Which of the following is a reason why peer pressure influences consumers
People often compare themselves to others.
In economics workers are both producers and which of the following
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
In economics All goods and services that exist must be made by
Because calculations of cost and benefit are subjective they can be described as
Vary from one person to another.
Which best describes a situation where the goal growth is being pursued
The government establishes a retirement program for its
citizens.
What best explains why players in the game of economics are often in conflict with each other
Some economic goals are incompatible with each other.
The need to get goods from producers to consumers raises what basic questions
How are goods and services distributed
Which other the following is an example of a distribution decision
A pipeline is set up to get oil from wells to refineries.
Which of the following is an example of a production decision ...
Science can be used to predict the effects of the dam on wildlife.
Which of the following is another term for a planned economy
What Of The Following is an essential part of making a rational choice
doing cost benefit analysis
Which if the following is not a goal pursued in the game of economics
