Home Library Explore SAT

Home Library Explore SAT

Economics Flashcards | StudBud

Explore/Economics

Economics

7 terms·StudBud Administration

The basics of economics

Flashcards7 cardsFPractice quizPHost liveL

Questions 7

Answers

1
How do you calculate your net worth
Liabilities divided by equity
Equity plus net income
Subtract liabilities from assets
2
Where did the name Ponzi Scheme come from?
Will Ponzi
Chad Ponzi
Bill Ponzi
Charles Ponzi
3
Who used marginal thinking
tod picked 20 more veggies from his garden than usual
All of the above
Sophie worked over time to gain more money
Jim spent 1 more hour studying instead of going out
4
What is an asset
Money coming in
Money owed
Something owned that has value
5
Which of the folowing exlplains economic incentives the best:
The way you behave
Needs and wants
Things that motivate you to behave in a certain way
6
What is scarcity
The inability to satisfy the unlimited wants and needs
Not having enough supply for the demand
To be afraid
7
Having an unlimited amout of resources makes consumers:
Wait
Demand more
Choose a better alternative