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☆☆☆☆☆Cards in this guide (19)
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.
Technological advancements can improve productivity by doing which of the following
Developing machines that reduce the human effort needed to produce goods and services.
Economics is about allocating resources to produce and distribute which of the following
Goods and services
When the gross domestic product is neither growing nor shrinking a country's economy is doing what
Stagnating
Calculations of cost and benefit are always which of the following
Subjective
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.
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 explains why companies spend money on advertising
Companies want to influence consumer behavior through advertising.
Which of the following best explains why the game of economics does not have a signal goal
Evaluation
Which of the following is essential part of making rational choice
Doing cost-benefit analysis
Which of the following economic indicators would be most useful for figuring out whether the economy is growing quickly of slowly
gross domestic product
What is debit to equity ratio
Debt to equity ratio is a measurement criteria to measure how much debt is used in business as compare to owner's capital to finance the business.
What must be a feature of an activity for it to be a game
A set of rules
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
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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