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Economics

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Mary Runte

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Cards in this guide (18)
What is an example of an allocation decision

Coal is set aside to burn as heating fuel.

A country's economy is stagnating when the GDP is doing which of the following

Neither rising nor falling

Which of the following economic indicators measures inactivity rather than activity

Unemployment rate

Which of the following is happening when the GDP is neither rising nor falling

Stagnation

Which of the following best describes the kinds of decisions that result from using cost-benefit analysis

An outcome with benefits that are greater than the costs.

What best describes the incentive for producers to conduct market research

The desire to know what consumers want.

Which of the following are useful for conducting market research

Focus groups Focus groups

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 questions must be asked about the use of resources in an economic system

What is the most effective allocation?APEX!

What is the purpose of economic indicators

To judge the overall condition of a particular country's economy.

What best explains why competition is an important part of a free-market system

C. Without competition, people wouldn't have a lot of choices.

Which of the following is a reason why peer pressure influences consumers

People often compare themselves to others.

Which of the following explains why companies spend money on advertising

Companies want to influence consumer behavior through advertising.

The internet influences the economic decisions people make of which of the following

The information that is accessible allows consumers to consider every available option..

Apex:) L.R

Which best describes a situation where the goal growth is being pursued

The government establishes a retirement program for its citizens.

Which of the following is another term for a planned economy

socialist system

Economics is about doing with the resources when it comes to the production and distribution of goods and services

Allocating Apex

Which if the following is not a goal pursued in the game of economics

Stagnation

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