The gross domestic product goes up when there is what
🔄 Click to see definition
Definition1/10
More investment in businesses
🔄 Click to see term
Term1/10
What is one of the main factors driving prices for goods and services upward
🔄 Click to see definition
Definition1/10
Production costs increase so that producers need to charge more
to make a profit.
🔄 Click to see term
Term1/10
In a free-market system producers are motivated to reduce costs and increase revenues because of what
🔄 Click to see definition
Definition1/10
The profit motive.
🔄 Click to see term
Term1/10
In the game of economics workers are the players who function as both producers and
🔄 Click to see definition
Definition1/10
In the game of economics, workers are the players who function
as both producers and _consumers_
🔄 Click to see term
Term1/10
In a free market system the profit motive motivates producers to do which of the following
🔄 Click to see definition
Definition1/10
minimize costs and maximize revenues
🔄 Click to see term
Term1/10
Which of the following is uded by economists to measure the satisfaction a person gets from the use or consumption of goods and services
🔄 Click to see definition
Definition1/10
The concept of utility.
🔄 Click to see term
Term1/10
Match the type of market structure with each example
🔄 Click to see definition
Definition1/10
A. Pure competition Computer operating systems B.Near monopoly Fast food restaurants C. Monopolistic competition Online auctioning D. Oligopoly Car makers
🔄 Click to see term
Term1/10
Is a technique advertisers employ to increase consumer demand for their goods and services
🔄 Click to see definition
Definition1/10
turning luxuries into necessities
🔄 Click to see term
Term1/10
Which most strongly drives producers in a free market economy
🔄 Click to see definition
Definition1/10
Coercion
🔄 Click to see term
Term1/10
Which of the following is measured by utility
🔄 Click to see definition
Definition1/10
The Satisfaction a person gets from consumption
this is for apex economics
🔄 Click to see term
🥳
Great job!
You studied all the cards in this guide.
Rate this guide:
☆★☆★☆★☆★☆★
Start overPrint
Full screen
Rate this Study Guide:
☆★☆★☆★☆★☆★
Cards in this guide (10)
The gross domestic product goes up when there is what
More investment in businesses
What is one of the main factors driving prices for goods and services upward
Production costs increase so that producers need to charge more
to make a profit.
In a free-market system producers are motivated to reduce costs and increase revenues because of what
The profit motive.
In the game of economics workers are the players who function as both producers and
In the game of economics, workers are the players who function
as both producers and _consumers_
In a free market system the profit motive motivates producers to do which of the following
minimize costs and maximize revenues
Which of the following is uded by economists to measure the satisfaction a person gets from the use or consumption of goods and services
The concept of utility.
Match the type of market structure with each example
A. Pure competition Computer operating systems B.Near monopoly Fast food restaurants C. Monopolistic competition Online auctioning D. Oligopoly Car makers
Is a technique advertisers employ to increase consumer demand for their goods and services
turning luxuries into necessities
Which most strongly drives producers in a free market economy