Cards in this guide (21)
What is the main source of revenue for media corporations
A country's economy is stagnating when the GDP is doing which of the following
Neither rising nor falling
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 is necessary for hiring workers and organizing production
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 is a reason why peer pressure influences consumers
People often compare themselves to others.
What directly generates revenue for a business
Output directly generates revenue for business.
Output
Which of the following explains why companies spend money on advertising
Companies want to influence consumer behavior through
advertising.
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.
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
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
What do economists use to measure the personal satisfaction someone gets from consuming goods and services
Utility because it's a term in economics that refers to the total satisfaction received from consuming a good or service.
Which of the following is not something that consumers need to pay attention to order to make rational choices
In a socialist society the government does not do which of the following
provides freedom of choice for producers
Economics is about doing with the resources when it comes to the production and distribution of goods and services
Which if the following is not a goal pursued in the game of economics
Which of the following best demonstrates the way consumers and producers influence each other in the free market system
