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Intro to Economics Flashcards | StudBud

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Drew decides to renovate an old home instead of building a new house is

Which of these examples of communism is correct?

Intro to Economics

10 terms·StudBud Administration·59 plays

Basics of economics

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Questions 10

Answers

1
Which of these examples of communism is correct?
James is only allowed to make 200 clocks in his shop
Sarah decides to offer door-to-door medical help to elderly
Tracy wanted to be an Uber driver
2
Drew decides to renovate an old home instead of building a new house is
How to produce
What to produce
For whom to produce
3
Who is the producer in this picture
Woman on the right (blonde)
Woman on the left (black hair)
4
Which of these examples of capitalism is correct?
Government manages the entire internet cable fees
Government gave the country 5 years to make 5% productivity
Reianna can only buy government sponsored food
Candy decides to start her own rideshare company
5
One of the most important ideas of economics is
Choices/decision-making
Capitalism
Trade-off
Scarcity
6
Why is scarcity a problem in society, according to economics? Use the INCORRECT answer
People want to have it all
Because capitalism is the best economic system
Resources are limited
Choices can cause high productivity or no productivity
7
Who is the consumer in this picture?
Ms. Leung's imaginary unicorns
The Asian Woman
The Couple
8
Sanrio sells Hello Kitty with girly designs
How to produce
What to produce
For whom to produce
9
Construction company decides to hire more workers instead of using machines for construction is
What to produce
How to produce
For whom to produce
10
Pig decides to build his house with wood instead of brick is an example of
What to produce
For whom to produce
How to produce