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Economics

Clark Rosenbaum ∙

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Term1/20

What is the amount of a good or service that a consumer is willing to buy called

Definition1/20

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.

Term1/20

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

Definition1/20

Laissez-Faire

Term1/20

This type of economics addresses the question what ought to be

Definition1/20

The field of economic ethics addresses this particular question.

Term1/20

This type of economics addresses the question what is

Definition1/20

Pure economics addresses this question.

Term1/20

In which direction does the demand curve on a graph slant

Definition1/20

Downward left to right

Term1/20

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

Definition1/20

Agriculture

Term1/20

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

Definition1/20

More money invested and/or saved.

Term1/20

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

Definition1/20

To offer more services to the general puclic

Term1/20

What do the inner arrows of the circular flow model represent

Definition1/20

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

Goods & Services (From firms to households).

[in a 2 sector economy)

Term1/20

The interaction of the producer and the consumer establishes a price

Definition1/20

True.

Term1/20

Only one person is liable if the business fails

Definition1/20

proprietorship

Term1/20

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

Definition1/20

Applied Economics A+

Term1/20

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

Definition1/20

Treasury

Term1/20

Supply creates a demand

Definition1/20

False(Kaylop)

Term1/20

Which term applies to this definition

Definition1/20

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

Term1/20

Which of these described they economic view of the Chicago school of economists

Definition1/20

microeconomic

Term1/20

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

Definition1/20

economist

Term1/20

Which term applies to the choice to go to the big game means that you will not be able to use a free ticket to the rock concert

Definition1/20

secondary effect

Term1/20

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

Definition1/20

Secondary Effect

Term1/20

Which of these statements is correct in an economic way of thinking

Definition1/20

Something must be given up if we are to have more scarce resources.

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Cards in this guide (20)

What is the amount of a good or service that a consumer is willing to buy called

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

Laissez-Faire

This type of economics addresses the question what ought to be

The field of economic ethics addresses this particular question.

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.

Which of these described they economic view of the Chicago school of economists

microeconomic

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 the choice to go to the big game means that you will not be able to use a free ticket to the rock concert

secondary effect

The economic policy of John Maynard Keynes called for government assistance so there could be full employment

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Economics

Rate this Study Guide:

Economics

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

This type of economics addresses the question what ought to be

This type of economics addresses the question what is

In which direction does the demand curve on a graph slant

Economics

Is 'If there is a hope there is a way' the correct wording for the saying or is it different

In the classical economic model which of these rather than the government allocates the resources of the nation

In this department the Bureau of Economics provides an analysis of the nations economy including the GNP

What does PC mean in economic terms

Economics

Is 'If there is a hope there is a way' the correct wording for the saying or is it different

In the classical economic model which of these rather than the government allocates the resources of the nation

What does PC mean in economic terms

The economic policy of John Maynard Keynes called for government assistance so there could be full employment

Economics

Is 'If there is a hope there is a way' the correct wording for the saying or is it different

In the classical economic model which of these rather than the government allocates the resources of the nation

What does PC mean in economic terms

The economic policy of John Maynard Keynes called for government assistance so there could be full employment

Economics

Is 'If there is a hope there is a way' the correct wording for the saying or is it different

In the classical economic model which of these rather than the government allocates the resources of the nation

What does PC mean in economic terms

The economic policy of John Maynard Keynes called for government assistance so there could be full employment

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