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Economics

Ella McKenzie ∙

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Term1/10

In a free-market system producers are motivated to reduce costs and increase revenues because of what

Definition1/10

The profit motive.

Term1/10

In the game of economics workers are the players who function as both producers and

Definition1/10

In the game of economics, workers are the players who function as both producers and _consumers_

Term1/10

What accurately describes a surplus

Definition1/10

An example: Consumer demand for a certain car is below the number of cars that are produced. There is an unsold surplus of the vehicles.

Term1/10

Which of the following is uded by economists to measure the satisfaction a person gets from the use or consumption of goods and services

Definition1/10

The concept of utility.

Term1/10

Which of the followiong best explains how trade enhances efficiency

Definition1/10

Trade gets productive resources from one place to another where they're more needed.

Term1/10

What best explains the purpose of worker slowdown

Definition1/10

Do demonstrate the importance of worker-employee corporation

Term1/10

Which of the following best describes why buying an home is an investment apex

Definition1/10

When someone owns a home he/she can generally sell it in the future for more than the original price

Term1/10

Is a technique advertisers employ to increase consumer demand for their goods and services

Definition1/10

turning luxuries into necessities

Term1/10

Which most strongly drives producers in a free market economy

Definition1/10

Coercion

Term1/10

Which of the following is measured by utility

Definition1/10

The Satisfaction a person gets from consumption

this is for apex economics

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Cards in this guide (10)

In a free-market system producers are motivated to reduce costs and increase revenues because of what

The profit motive.

In the game of economics workers are the players who function as both producers and

In the game of economics, workers are the players who function as both producers and _consumers_

What accurately describes a surplus

An example: Consumer demand for a certain car is below the number of cars that are produced. There is an unsold surplus of the vehicles.

Which of the following is uded by economists to measure the satisfaction a person gets from the use or consumption of goods and services

The concept of utility.

Which of the followiong best explains how trade enhances efficiency

Trade gets productive resources from one place to another where they're more needed.

What best explains the purpose of worker slowdown

Do demonstrate the importance of worker-employee corporation

Which of the following best describes why buying an home is an investment apex

When someone owns a home he/she can generally sell it in the future for more than the original price

Is a technique advertisers employ to increase consumer demand for their goods and services

turning luxuries into necessities

Which most strongly drives producers in a free market economy

Coercion

Which of the following is measured by utility

The Satisfaction a person gets from consumption

this is for apex economics

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