Be One
Type of utility is created when a manufacturer converts raw materials into a finished product that consumers want
Form
Resources used to produce goods and services
Factors of production
A type of AI that enables systems to automatically learn and improve from experience
Machine Learning
The relationship between price and quantity demanded
Demand curve
Plant’s berries are often white and traditionally hung on doorways?
Mistletoe
A consumer uses a credit card to purchase an item, they are immediately gaining the right to use the product. This exchange primarily creates which type of utility
Possession
The government owns most of the means of production
Command economy
Technology that allows a smart assistant like Siri or Alexa to understand your spoken questions is known as
Natural Language Processing (NLP)
3 fundamental economic
What to produce; How to produce; For whom to produce
Holiday drink is also called “milk punch”
Eggnog
GDP stands for ___________________
Gross Domestic Product
"Invisible hand" of self-interest guiding resources to their most productive uses is a concept associated with which type of economy
Market economy
Shared values, beliefs, attitudes, and behaviors that shape the social and psychological environment of a business are known as its
Workplace Culture
The value of the next best alternative given up when making a choice
Opportunity Cost
Name of the famous Christmas ballet
The Nutcracker
GDP is usually measured when
Quarterly and annually
Government decisions about taxation and spending is _____________ policy
Fiscal
A corporation's initiative to assess and take responsibility for its effects on environmental and social wellbeing is called:
Corporate Social Responsibility (CSR)
The relationship between price and quantity supplied
Supply curve
In the “Twelve Days of Christmas” song, how many French hens does the true love give
Three
Having unlimited wants in a world of limited resources
Scarcity
The federal minimum wage is ____________
$7.25 per hour
A car dealership providing a comprehensive warranty and maintenance schedule for a purchased vehicle is primarily enhancing
Information Utility
To select a course of action from among multiple alternatives
Decision making in economics
New York City theater do the Rockettes perform at
Radio City Music Hall