Show:
The
Amazing
Fundamental
Economy
Concepts
100
The economist who has the most influence on the development of capitalist ideals?
Who is Adam Smith
100
The Economists that has the most influence on development of capitalist ideals was
Who is Adam Smith
100
Often increases efficiency
What is Technology
100
The basic fact of economic life
What is scarcity
100
***Show Diagram In the Diagram Point A is
What is Inefficent
200
The mineral resources in economics are categorized as
What is land
200
Construction of new houses increase. What will happen to demand for such complementary goods as timber, paint,and paint brushes?
What is it will rise.
200
Economies that are closet to the pure market model are classified as
What is Capitalist
200
Modern economics as a field of study is usually thought to have begun with
What is Adam Smith in the writing of The Wealth of Nations,(1776)
200
Which of the following is true? A.If the economy is operating at point A, it is impossible to produce more of both food and clothing. B.If the economy is operating at point B, it is impossible to increase the output of clothing. C. If the economy is operating at point A, resources are being used ineffeciently. D. If the economy is operating at point B,resources are being use inefficiently.
What is if the economy is operating at point A,resources are being used inefficiently.
300
Make us more effective citizens?
What is economics
300
A entrepreneur will most likely to have the best chance for success in
What is market economy
300
Scarcity can be avoided by making
What is wants and needs limited
300
Economics is primarily study of
What is the allocation in use of scarce resources in human society
300
The concept of voluntary means
What is that people freely in willing engage in market transactions
400
Which of the following is true of a production possibilities curve? A. It reveals the maximum amount of any two produce that can be produced from a fixed quantity of resources. B. It reveals the ideal of technology with which alternative outputs level can be produced. C. It assumes that the prices of the two products are equal. D. It assumes that higher wage rates will encourage individuals to work harder.
What is It reveals the maximum amount of any two products that can be produced a fixed quantity of resources.
400
The minimum wage is and example of a federal law that supports which economic goal
What is economic equity
400
Which is an example of economic growth? A.When a new ball bearing plant opens,1,500 jobs are created. B.The price of vegetables increases sharply in the spring C. An employer is fined for refusing to hire women to fill new job openings. D. A man decides to quit working as a waiter and begin a career in marketing.
What is when a new ball bearing plant opens,1,500 jobs are created.
400
In a market economy the decisions of what to produce is often determined by
What is consumer demands
400
If you pay $5,000 a year in tution and give up $20,000 a year of income to attend college, then the opportunity cost of college is
What is at least $25,000 of tution in foregon income
500
Which of the following can be a resource? A. Trees B.Bicycles C.Sunlight D.All of the above
What is All of the above
500
Use statement I and II to choose the correct answer. (I) Voluntary exchange results because both participants expect to gain from the transaction. (II) Nothing is created as the result of an exchange. If one party to the exchange gains, the other party must loose.
What is I is true;II is false
500
In truth, all economies today are
What is mixed
500
Choices in a command economy made by
What is government agencies
500
The primarily tool used by business to tell consumers about the goods and services they sell in the market place is
What is advertisement