stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Econ 1-3 Flashcards | StudBud
Explore
/
Econ 1-3
Econ 1-3
7 terms
·
StudBud Administration
·
463 plays
not supply and demand
Flashcards
7 cards
F
Practice quiz
P
Host live
L
Questions
7
Answers
1
What is the sunk cost? You return a new pair of jeans for a full refund.
Time to pick out said jeans
The ew pair jeans you now buy
The tax money
2
Which economic system is the Factors of Prodcution controlled by a central planning agency?
traditional
mixed
command
Market
3
A production possibilties curve shows...
time spent on R&D
costs of materials
efficient use of resources
money multipliers
4
The United States is classified as a ________________type of economy.
mixed
traditional
communist
market
5
We all make decisions at the margin...which means that our costs must be equal to our
expenses
time spent
benefits
6
Economic statement that is not fact based.
Riccardian
Normative
Conditional
Positive
7
Which type of economy does a central planning make all decisions?
communist
traditional
socialist
