Cards in this guide (25)
The government does which of the following in a planned economy
Which of the following best explains the profit motive
Minimize costs and maximize revenue.APEXX
the desire to make money through the production of goods and services
The desire to make money through the production of goods and services
a. The incentive to buy at a low price in order to be able to sell at a higher price.
b. The desire to make money through the production of goods and services.
c. The decision to allow market forces to decide on the price of goods and services.
d. The motivation to work hard at a job in order to buy more goods and services.
B.
Which of the following economic indicators measures inactivity rather than activity
Which of the following is happening when the GDP is neither rising nor falling
Which of the following are useful for conducting market research
Focus groups Focus groups
What is the purpose of economic indicators
To judge the overall condition of a particular country's
economy.
In economics workers are both producers and what
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 best explains why property rights are necessary in a free-market system
Property rights allow consumers and producers to make free
choices
Which of the following best explains why different people have different levels of risk aversionWhich of the following best explains why different people have different levels of risk aversion
Some people are willing to take more chances than others.
How much did corn cost ten years ago
Which of the following terms best characterizes cost-benefit analysis
Which of the following pairs of words best describes using cost benefit analysis maximizing and minimizing
What best explains how free choice is protected in a free market system
The governmentmakes & enforces whatever laws are needed to
garuntee free choice.
Which best describes a situation where the goal growth is being pursued
The government establishes a retirement program for its
citizens.
Would farm income stagnates result in a reduction of GDP
Which of the following is another term for a planned economy
What kind of economic system does a socialist country have
In a socialist society the government does not do which of the following
provides freedom of choice for producers
Which of the following is true of decisions made using cost-benefit analsis
the best decision results in the most benefits with the fewest
costs
Which of the following would result in an increase in GDP apex
Greater levels of iinvestment
Which group of people was most directly affected by the Nineteenth Amendment
Economics is about doing with the resources when it comes to the production and distribution of goods and services
Who of the following best explains how a free-market system has a circular flow of influences
Consumer decisions affect producers, and producer decisions affect consumers
Which if the following is not a goal pursued in the game of economics
