Cards in this guide (17)
Can tow truck drivers tow with car cover on the car
Is demand defined as the amount of a good or service that consumers are willing and able to buy at a price
When factors of production perform only tasks they can do more efficiently than others
Specialization is when factors of production perform only tasks
they can do more efficiently than others. This is argued to
maximize efficiency, but also increases interdependence among
aspects of production.
Which of the following is perhaps the most frequent cause of difficulty or failure when studying economics
Failure to understand the basic definitions is perhaps the most
frequent cause of difficulty or failure when studying
economics.
What level does macroeconomics focus on
Which level does macroeconomics focus on?
What careers need calculus
Engineering careers, physicists, mathematicians, economists.
Why does the government support entrepreneurs
The government support entrepreneurs because they are valuable
to the economy.
Which of the following statements about racial groups in the US is true
Which of the following statements about racial groups in the
U.S. is true?
Which of the following is not an economic goal that influences how societies answer the three key economic questions
In order to know which of the following is not an economic goal
that influences how societies answer the three key economic
questions one would need to know the answer choices.
societies make decisions about how to produce certain goods by
considering whether companies or the government should make the goods.
the machinery and tools used to create a product are part of which factor of production
what role do entrepreneurs play in the economic decisions a society makes
They organize resources to try to meet a society's wants and needs.
What is a major similarity between economic wants and economic needs
People try to fulfill both with limited resources.
which person is an example of an entrepreneur
A designer who starts a new fashion company
Which situation would reduce the scarcity of a product
A foreign country begins exporting the product in high volume.
which option is an example of capital as a factor of production
An industrial assembly line
Which description is the best example of human capital
A doctor with expertise in medicine