Fundamental Economics Review

Which role of government is being described in the picture?

Land, labor, capital, entrepreneurship...

Unlimited wants and needs plus limited resources

This economic system allows individuals to make decisions

Which role of government does the picture represent?

Which best explains why the shift from PPC QMR to PPC SNT occured?

Command economies are most closely associated with ...?

Underutilizaton is best described as

Free enterprise, Choice, Capitalism describe which of the following

To distribute

Assembly lines increase productivity because workers are allowed to...

Which of the following is not a strength associated with market economies?

Which of the following IS NOT an economic question?

Government and individuals decide the three economic questions; which type of economy exist?

Which points represent efficiency?

Increased laws or rules of the government is

Which factor of production comes to mind?

Which point means production impossibility

opportunity cost is

U.S. economy is best described as

Which best describes a rational decision?

Weakness of a command economy

What is the opportunity cost of moving from point A to point C

T/F Specialization and trade do not increase productivit.

All of the following are cost associated with government regulation except