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Economics

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Godfrey Franecki

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Cards in this guide (20)
In economic terms what does market mean

the coming together of a buyer and seller

What type of tax is placed on the value of inherited property

inheritance

What is the subject on which a tax is levied

tax base

What type of tax is imposed on all real and personal property of a deceased person

estate (A+)

Which definitions does not describe economics

"Economics is the study of how people relate to each other" is a statement that does not define economics.

Which of these produces money in the form of rent

land

Which of these is not a way to conserve energy on a daily basis

leaving your air conditioner on during the day

Which of these is not an example of natural resources

which of these natural resources is not being renewed

What type of resource is not an economic factor of production

Money, political resources, and infrastructure are not considered economic factors of production.

Money is considered to be a factor used in trade, mostly. Money is used to trade or sell or buy something and for production to move as well. It can be a huge factor that contribute to production but it mostly envelopes the trade industry.

Which of these commuting options does not help reduce pollution

driving 20 mph above the speed limit...

A certain producers business is to collect sterilize add seltzer and redbottle water after doing this how can the water be classified

economic question

Is an organization that produces and distributes a good or service for profit called a business yes or no

Yes

Why do students who do not fully understand economic terms and their definitions have trouble succeeding

because without the definitions, you cannot understand the idea.

Which of these is sometimes included as a fourth factor of production

intellectual capital

Where can you find easy simple ways to reduce your carbon footprint and save money

Environmental Protection Agency (EPA) website

What is considered the passive factor in production

land

Which term refers to the cost a firm incurs for labor

Wages A+

Which is classified as working capital

stocks of finished goods

Which of these would not be considered intellectual capital

cultural values

Which of these items is not considered by economists to be a needa mealsheltera coata book

Which of these items is not considered by economists to be a need?

a meal

shelter

a coat

a book

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