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☆☆☆☆☆Cards in this guide (18)
Economics is about allocating resources for doing which of the following processes involving goods and services
Production and distribution
Why does the free-market system follow a circular flow model
consumers
The free choices made by consumers and producers influence each other.
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
Which of the following is not an economic goal
Victory
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 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 a freemarket system consumers let producers know what they want to buy and how much theyre willing to pay through what
Their purchases.
Which of the following is essential part of making rational choice
Doing cost-benefit analysis
Which best describes a situation where the goal growth is being pursued
The government establishes a retirement program for its citizens.
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
socialist system
What Of The Following is an essential part of making a rational choice
doing cost benefit analysis
Economics is about doing with the resources when it comes to the production and distribution of goods and services
Allocating Apex
Which if the following is not a goal pursued in the game of economics
Stagnation
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