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Economics

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Elnora Hickle

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Cards in this guide (19)
What is an example of an allocation decision

Coal is set aside to burn as heating fuel.

A country's economy is stagnating when the GDP is doing which of the following

Neither rising nor falling

Which of the following economic indicators measures inactivity rather than activity

Unemployment rate

Which of the following questions must be answered in order to turn resources into products

How should production be organized?
idk i got it wrong but its NOT "How should production be organized? "

i think its "How are goods and services to be distributed?"

Which of the following best describes the kinds of decisions that result from using cost-benefit analysis

An outcome with benefits that are greater than the costs.

The gross domestic product goes up when there is what

More investment in businesses

Which of the following are useful for conducting market research

Focus groups Focus groups

What best explains why competition is an important part of a free-market system

C. Without competition, people wouldn't have a lot of choices.

Which of the following is a reason why peer pressure influences consumers

People often compare themselves to others.

Which of the following pairs of words best describes using cost benefit analysis maximizing and minimizing

Rational and subjective

The internet influences the economic decisions people make of which of the following

The information that is accessible allows consumers to consider every available option..

Apex:) L.R

Which best describes a situation where the goal growth is being pursued

The government establishes a retirement program for its citizens.

What do economists use to measure the personal satisfaction someone gets from consuming goods and services

Utility because it's a term in economics that refers to the total satisfaction received from consuming a good or service.

Which of the following is another term for a planned economy

socialist system

Which of the following is true of decisions made using cost-benefit analsis

the best decision results in the most benefits with the fewest costs

Which of the following would result in an increase in GDP apex

Greater levels of iinvestment

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

Which of the following best demonstrates the way consumers and producers influence each other in the free market system

A circular model

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