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☆☆☆☆☆Cards in this guide (13)
Explain how the production of services differs from the production of manufacturing goods give two example
In the game of economics, which of the following players use goods and services?
Which of the following would not increase GDP
More imports
Imports. Apex 8)
imports. Apex 8)
Greater levels of investment.
Which of the following is not an economic goal
Victory
Economics is about allocating resources to produce and distribute which of the following
Goods and services
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.
What describes an efficient outcome
A car is designed to waste as little fuel as possible.
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
What best explains why players in the game of economics are often in conflict with each other
Some economic goals are incompatible with each other.
The need to get goods from producers to consumers raises what basic questions
How are goods and services distributed
Which if the following is not a goal pursued in the game of economics
Stagnation
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