Why is a decision-making grid a valuable tool in decision making?

Illustrates pros and cons & will help make good choices

Which best explains Opportunity Costs or Trade Offs

Every decision has implications

I beat Retz out for the Superintendency of Hamilton CSD

Which of the following is not one of the sought after 21st Century skills employers want?

Ability to make basic mathematical computations

Which of the following is not a basic question that Economics addresses?

How do we look when we are doing the other three?

The Real Reason College Grads Can't Get Hired

Lack work place skills more so than content knowledge

Mr. P brought my dead cousin to show his students @ Greene

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Economic Fundamentals

24 termsStudBud Administration45 plays

Unit I Review

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Questions 24

Answers

1
All of these influence how a people answers the three basic questions of economics EXCEPT
Schmolterbustles
Cultural Values
Security needs
Efficiency
2
Why is a decision-making grid a valuable tool in decision making?
Mr. Retz says so
Always points you to the best solution/decision
Eliminates all guessing
Illustrates pros and cons & will help make good choices
3
Which individual is correctly paired with the economic principal associated with them?
Marx / Population
Smith / Competition
Malthus / Governmental role
Keynes / Abuse by wealthy
4
This image illustrates what Factor of Production?
Human Capital
Land
Labor
Physical Capital
5
What am I concerned with?
Both Supply & Demand
Supply
Where I can get good wings
Demand
6
Which best explains Opportunity Costs or Trade Offs
Every decision has implications
One choice always has no negative implications
Some decisions don't have negative implications
Guessing is best decision making process
7
Which individual is correctly paired with the economic principal associated with them?
Marx / Population
Smith / Abuse by wealthy
Malthus / Competition
Keynes / Governmental role
8
Macro-economics is the
Study of a segment of any economy
Study of an entire economy
Study of how position of planets affects jelly bean colors
Study of convicts read Harlequin novels
9
Life is all about...
the Greatest Rock and Roll Band of all times
Choices
Sloppy Joe's
minimizing gastro-intestinal pain
10
This image illustrates what Factor of Production?
Labor
Land
Physical Capital
Human Capital
11
Which of the following did Mr. Retz not participate in?
Synchronized swimming
Basketball
Diving
Archery
12
The fundamental principle or concept that drives economic decision-making...
Security
Serenity
Surplus
Scarcity
13
Who am I
I am Donald Trump's Russian connection
I knocked Retz out in a heavyweight Gold Gloves Boxing match
Mr. Retz was my 9th grade SS teacher
I beat Retz out for the Superintendency of Hamilton CSD
14
This image illustrates what Factor of Production?
Labor
Physical Capital
Human Capital
Land
15
This illustrates what...
Needs v. Wants
Beverage options at Applebees
Concept of scarcity
the Law of Supply
16
This image illustrates what Factor of Production?
Labor
Land
Human Capital
Physical Capital
17
Which of the following is not one of the sought after 21st Century skills employers want?
Ability to make basic mathematical computations
Ability to think "outside the box"
Ability to communicate effectively
Ability to work with others
18
Which of the following is not a basic question that Economics addresses?
How do we look when we are doing the other three?
What goods & services do we produce?
For whom do we produce them?
How do we produce them?
19
The Real Reason College Grads Can't Get Hired
Don't know how to use modern technology
Don't appreciate good music
Lack work place skills more so than content knowledge
Body Odor
20
What is the one issue you associate Thomas Malthus with?
Capitalism
Population
Communism
Laissez-Faire theory
21
Who am I?
Mr. P brought my dead cousin to show his students @ Greene
Fannie the Fox
The animal that gave Mr. Retz rabies in 9th grade
Wiley E. Coyote
22
Which individual is correctly paired with the economic principal associated with them?
Marx / Free Market
Malthus / Population
Keynes / Governmental Role
Smith / Abuse by wealthy
23
Which economic system does this clip best illustrate?
Market
Traditional (Gathering Nuts)
Command
Mixed
24
Which is not a primary question that economics answers?
By whom is it produced?
For whom shall it be produced?
What is produced?
How shall goods & services be produced?

Economic Fundamentals Flashcards | StudBud