Which kind of economic system does a capitalist country have
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A system where production takes place for the sake of profit, where most people have to work for wages, and a tiny minority live very well off rent, interest and profit .
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Which of these is not necessarily part of the game of economics
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The reduction of waste
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Which of the following best explains the profit motive
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Minimize costs and maximize revenue.APEXX
the desire to make money through the production of goods and services
The desire to make money through the production of goods and services
a. The incentive to buy at a low price in order to be able to sell at a higher price.
b. The desire to make money through the production of goods and services.
c. The decision to allow market forces to decide on the price of goods and services.
d. The motivation to work hard at a job in order to buy more goods and services.
B.
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Which of the following best explains why property rights are necessary in a free-market system
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Property rights allow consumers and producers to make free
choices
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In the game of economics goods are objects that fulfill people needs and
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wants
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Which of the following pairs of words best describes using cost benefit analysis maximizing and minimizing
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Rational and subjective
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Which of the following best explains why the game of economics does not have a signal goal
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Evaluation
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What results from the fact that free market system is based on the free choices of consumers and producers
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The free-market system has a circular flow of influence.
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Utility is the concept that economists use to measure the a person gets from the use or consumption of goods and services.
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satisfaction
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Cards in this guide (9)
Which kind of economic system does a capitalist country have
A system where production takes place for the sake of profit, where most people have to work for wages, and a tiny minority live very well off rent, interest and profit .
Which of these is not necessarily part of the game of economics
The reduction of waste
Which of the following best explains the profit motive
Minimize costs and maximize revenue.APEXX
the desire to make money through the production of goods and services
The desire to make money through the production of goods and services
a. The incentive to buy at a low price in order to be able to sell at a higher price.
b. The desire to make money through the production of goods and services.
c. The decision to allow market forces to decide on the price of goods and services.
d. The motivation to work hard at a job in order to buy more goods and services.
B.
Which of the following best explains why property rights are necessary in a free-market system
Property rights allow consumers and producers to make free
choices
In the game of economics goods are objects that fulfill people needs and
wants
Which of the following pairs of words best describes using cost benefit analysis maximizing and minimizing
Rational and subjective
Which of the following best explains why the game of economics does not have a signal goal
Evaluation
What results from the fact that free market system is based on the free choices of consumers and producers
The free-market system has a circular flow of influence.
Utility is the concept that economists use to measure the a person gets from the use or consumption of goods and services.