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Economics Flashcards | StudBud

Explore/Economics

What is the fundamental economic problem?

Capitalism is (might be more than one answer):

Economics

8 terms·StudBud Administration·183 plays

Introduces the basics of economics

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Questions 8

Answers

1
Capitalism is (might be more than one answer):
economic growth
economic freedom
all about making profit
privatization
2
What is the fundamental economic problem?
We have limited needs and unlimited resources
We have unlimited needs and limited resources
We have unlimited wants and limited resources
We have unlimited wants and unlimited resources
3
The goal of a producer is to...
Use sweatshop workers as human garbage bins.
To make a profit.
To collect taxes for government.
Satisfy the consumers needs and wants.
4
Greater economic freedom is associated with:
greater economic growth
political repression
lower life expectancy
terrorism
5
Consumers and producers are often described as being
Interrelated
Interstate
Interdependent
Interconnected
6
What do we mean by "investment in human capital"?
government spending on exploration of natural resources
higher spending on education and training
all of the above
higher spending on population control measures
7
Which of the following factors contributes least to economic growth?
low rates of inflation
high investment in physical and human capital
large amounts of natural resources
greater economic freedom
8
Which of the following is NOT a need?
Video game
Shelter
Food
Water