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☆☆☆☆☆Cards in this guide (10)
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 explains why the circular flow model characterizes the free-market system
Consumers and producers influence each other in a circular fashion.
The Gross Domestic Product goes down when which of the following occurs
Imports increase faster than exports.
What questions must be asked about the use of resources in an economic system
What is the most effective allocation?APEX!
What concept do economists use to measure the satisfaction a person gets from the use or consumption of goods and services
The concept of utility is a measure of consumer satisfaction.
Which of the following best explains why the game of economics does not have a signal goal
Evaluation
Which of the following economic indicators would be most useful for figuring out whether the economy is growing quickly of slowly
gross domestic product
Which of the following is an example of a production decision ...
Science can be used to predict the effects of the dam on wildlife.
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