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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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