Cards in this guide (21)
Who was the Russian leader who abdicated in 1917
Tsar Nicholas II abdicated the Russian throne in in March, 1917,
when the February Revolution toppled the Tsarist regime.
The difference between what the workers produce and what they earn is surplus value
Surplus value is the difference between the value that workers produce and what they are paid in wages.
Which factors of production are used by a landscaping service to provide economic value
labor, capital, and natural resources
What dictates which goods and services producers should or should not create
Who is best known for his trilogy of books on economics that guided the direction of the American economy
How long did the New Economic Policy prevail in Russia
What is money called when it is accepted for goods and services
Who is responsible for the law of diminishing returns
Who theorized the economic system of socialism
To which principle does circular flow refer
The circular flow refers to a simple economic model which
describes the reciprocal circulation of income between the
consumers and producers.
Thanks
Which term refers to the cost a firm incurs for capital goods
What defines the term labor as a factor of production
Labor is the human effort provided in the creation of products
and services.
What was granted to the united states in the treaty of paris in 1763
Owing to the terms of the treaty, France gave all its
territories in mainland North America.
Which of these is not a duty of the surface transportation board
Regulate certain freightliner and cargo ship operational matters.
Reagan's economic proposals were said to return what kind of principles to the American economy
To increase savings and investments, increase economic growth
and balance the budget.
In the circular model how are households compensated by firms for the factors of production they provide
With wages, rent and dividends.
Describes the book titled The New Industrial State
It argued that few American industries fit the model of perfect competition. A+
The products and services that are worth money and are provided by producers are referred to as which of these
economic value (A+ answer)
What two theorists did Alfred Marshall borrow the concept of the importance of cost to the supply of goods
Which of these describes the economic theory of laissez-faire
An economic system should be driven by free market forces, not government intervention. A+
Is john Maynard Keynes single
No, john Maynard Keynes is not single.
