Are
You
Ready
To
Graduate?
100
To arrive at an economic decision, a decision making grid my be used to evaluate
What is alternative choices of action
100
the dollar value of all final goods and services and the most conmprehensive measure of a country's total production output is:
What is GDP
100
A popular model used to illustrate teh concept of opportunity cost is
What is the ppf
100
An economy at its production possibilities frontier is operating
What is at full potential
100
#5
What is the vertical distance from point a to point x
200
#6
What is helps solve real problems
200
#7
What is utility
200
#8
What is able to ask questions to gain more knowledge
200
an example of a market economy is
What is the us
200
the us can best be described as having
What is a modified private enterprise system
300
all of the following are characteristics of a command economy except
What is public services are available at little or no cost
300
the minimum wage is an example of a federal law that supports
What is economic equity
300
the concept of voluntary exchange means
What is people freely and willingly engage in market transactions
300
#14
What is habit and custom
300
#15
What is interfere with business less
400
when a manufacturer of pain medication reduced the price of medication by 30%, profits declined by almost 30%. demand for the product is
What is unit elastic
400
#17
What is slope downward from left to right
400
#18
What is an increase in population
400
#19
What is would bring in the most money
400
the supply of a product normally decreases if
What is taxes on the product increase
500
when employees are getting in each other's way, the firm is operating
What is stage 2 of production
500
the theory of production deals with the relationship between the factors of production and
What is the output of goods and services
500
rent payments and property taxes would be counted as
What is fixed costs
500
many businesses are engaging in e commerce because
What is fixed costs are minimal
500
#25
What is taxes increase
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