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AP Macro Overview- Introduction Flashcards | StudBud
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AP Macro Overview- Introduction
AP Macro Overview- Introduction
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yahida tavarez
Flashcards
15 cards
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Practice quiz
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Questions
15
Answers
1
what is capitalism?
Centrally planned economies
Mixed economies
Trade-offs
Free market economics
2
The amount of money in terms of what it can buy is ?
No Value
Nominal Value
Real Value
Value
3
The face value of an amount of money is ?
I Cant Remember
Nominal Value
none of the above
Real Value
4
Which of the following is NOT part of the four factors of production?
People
Land
Labor
Entrepreneurship
5
What is scarcity?
best option on purchase
unlimited wants; limited resources
none of the above
unlimited wants and resources
6
An economy having elements of both market and command features.
Planned Economies
Free Market Economies
Scarcity
Mixed Economy
7
Ceteris Paribus.
Variables
Isolate Variable
Differfent Values
Latin for other variables to be held fixed
8
A good example of a consumer good is?
laptops
pizza
people
money
9
Resources provided by nature and used to produce goods.
Money
Natural Resources
Labor
Jesus
10
What is opportunity cost?
All of Them
What you have to scarafice
capitalism
limited resorces
11
What is Macroeconomics?
Jesus
study of the economy worldwide
study of money
Study of a nations economy as a whole
12
An economic model that illustrates the movement of money throughout the economy.
GDP
Circular Flow Model
JESUS
PPC
13
Marginal cost is ?
benefit everything
benefit cost from a small increase
benefit cost from a large increase
All of the above
14
Marginal Benefit is ?
More benefit from a small increase
more cost from a small increase
more benefit from a large increase
more cost from a large increase
15
What is Economics?
I dont Care
Scarcity
Money
the science of choice made by inividuals
