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☆☆☆☆☆Cards in this guide (17)
Under this economic theory the government does not get involved in the economy
Laissez-Faire
Conducting a survey to determine the current status of a welfare program
pure economics
In socialism but not in communism the government plays a strong role
False! false
This type of economics addresses the question what is
Pure economics addresses this question.
This branch of economics focuses on individual areas and units of the economy
microeconomics(kaylop)
If you left Promontory point Utah and traveled to San Francisco in which direction would you be traveling
West
What do the inner arrows of the circular flow model represent
flow of money payments(Kaylop)
Factor services ( From household to firms) &
Goods & Services (From firms to households).
[in a 2 sector economy)
What does the flow of money determine in the circular flow model
The allocation of resources. :P
Developing an economic plan to achieve the goal of fixing all of the main water lines in your town
applied economics
The effect of the cutting of the old-growth forests on the ancient cultures and traditions of the people
athropologist
This is the study of all aspects of the economy
macroeconomics
In the circular flow model economic resources is both production and the factors of production
true
true
This type of economics addresses the question how can you achieve the goals that have been established
Applied Economics A+
Which term applies to this definition
The total output of a group of individuals and the entire economy will increase when each good is produced at the lowest cost.
To which person would this event be of concern A business because the old-growth forest was not cut down
economist
Which group would be concerned with pollution of the river after cutting of the old forest
Environmentalists.
Which term applies to this situation failure to return a book to the library on time an paying a fine
Secondary Effect
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