Cards in this guide (22)
Opportunity cost definition
Opportunity cost is the cost associated with choosing one
opportunity over another. When you calculate opportunity cost you
don't consider cost that are common to both alternatives.
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.
Calculations of cost and benefit are always which of the following
Which economic indicator can show whether a country's economy is growing or stagnating
The GDP is neither growing nor shrinking. APEX ;]
Gross Domestic Product
The Gross Domestic Product goes down when which of the following occurs
Imports increase faster than exports.
Which of the following best describes the purpose of advertising
to transmit product messages to an audience
Which of the following is a reason why peer pressure influences consumers
People often compare themselves to others.
What was the goal of nativists
To stop immigration =APEX
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
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.
Which of the following best explains why the game of economics does not have a signal goal
Which of the following is essential part of making rational choice
Doing cost-benefit analysis
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.
Which of the following results from the fact that costs and benefits are based on preferences
Both monetary and non monetary factors are taken into
account.
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 of the following accurately describes the effect of a situation of scarcity
Which if the following is not a goal pursued in the game of economics
Which of the following best demonstrates the way consumers and producers influence each other in the free market system
