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Economics

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Pansy Bednar

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Cards in this guide (21)
Traditional economy coutries

What type of Government is in control in a traditional,command and market economy?

Who controls the resources?

Distribution of goods and services?

Controls productions?

What are the negative affects on society?

Benefits to society for each form of economy?

What were Karl Marx's beliefs known as

His followers were called Marxist's, so his belief system would be called Marxism.

What happened at the end of the most recent ice age

Sea levels rose over 300 feet.

Which would be least helpful in reducing indoor pollution

Increasing the house temperature

Who believed that the government should influence the economy

john maynard keynes

Which ofthe following is a reason the human population is growing exponentially
Why does the government support entrepreneurs

The government support entrepreneurs because they are valuable to the economy.

Do hurricanes gain strength by tropical cyclones

No. A hurricane is a tropical cyclone.

When will a cost benefit analysis be done

when will a cost benefit analysis be done

societies make decisions about how to produce certain goods by

considering whether companies or the government should make the goods.

what role do entrepreneurs play in the economic decisions a society makes

They organize resources to try to meet a society's wants and needs.

What is a major similarity between economic wants and economic needs

People try to fulfill both with limited resources.

which statement best describes the economic concept of scarcity

People have unlimited wants and limited resources to fulfill them.

which person is an example of an entrepreneur

An inventor who creates a new computer company

Which situation would reduce the scarcity of a product

A foreign country begins exporting the product in high volume.

which option is an example of capital as a factor of production

An industrial assembly line

Which description is the best example of human capital

A doctor with expertise in medicine

What is the result of having limited resources in an economy

People make economic choices about what to do with their

resources.

Which situation best describes an opportunity cost

A store that buys a shipment of computers can't afford to buy any new phones

Governments and businesses use incentives to

convince people to make certain economic decisions.

Which statement best illustrates Crusoe's reasons for teaching Friday about his religion

He believes that his religion is superior to Friday's religion.----APEX

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