In market economy, government is involved in...

Very few, if any, business decisions

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econ u1

15 termsStudBud Administration118 plays

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Questions 15

Answers

1
Goods and services are exchanged in the...
Product market
Factor market
Circular market
Resource market
2
GDP calculates the total value of...
Production of manufactured goods
All production
Human capital and financial capital
Capital inputs developed
3
All of the following are microeconomic concepts EXCEPT which?
Inflation
Demand
Salary
Profit
4
Natural resources are catagorized under which factor of production?
Entrepreneurship
Labor
Capital
Land
5
Command economies are citicized for being...
Dispersed
Unequal
Inefficient
Concentrated
6
A graph of suppy and demand helps measure...
Production output only
Long run aggregate supply
Price and quantity
Input and output
7
A market must include...
Regulators and taxpayers
Government and households
Buyers and sellers
Government and citizens
8
Economists assume all humans will behave…
In an economic community
Rationally
Laissez Faire
Rapidly
9
The four factors of prodcution are land, labor, ...
income, and spending
internal, and cooperative
human resources, and financial resources
capital, and entrepreneurship
10
The existance of a pure command economy is visible in...
Theory only
China
Vietnam
North Korea
11
The market equilibrium exists...
At one point in the market
Only in theory
Constantly in the market
At four points in the market
12
In market economy, government is involved in...
Industry business decisions
Very few, if any, business decisions
All business decisions
Most business decisions
13
When making a decision, rational actors will choose the…
Fastest increasing opportunity cost
Fastest declining opportunity cost
Lower opportunity cost
Higher opportunity cost
14
A rise in GDP indicates...
Fiscal output
Economic growth
Optimal levels
Circular stimulation
15
Macroeconomics focuses on decisions made by…
Specific businesses and industries
Major businesses and industries
Countries and governments
All economic actors

econ u1 Flashcards | StudBud

econ u1

15 termsStudBud Administration118 plays

Imported from external platform

Flashcards15 cardsFPractice quizPHost liveL

Questions 15

Answers

1
Goods and services are exchanged in the...
Product market
Factor market
Circular market
Resource market
2
GDP calculates the total value of...
Production of manufactured goods
All production
Human capital and financial capital
Capital inputs developed
3
All of the following are microeconomic concepts EXCEPT which?
Inflation
Demand
Salary
Profit
4
Natural resources are catagorized under which factor of production?
Entrepreneurship
Labor
Capital
Land
5
Command economies are citicized for being...
Dispersed
Unequal
Inefficient
Concentrated
6
A graph of suppy and demand helps measure...
Production output only
Long run aggregate supply
Price and quantity
Input and output
7
A market must include...
Regulators and taxpayers
Government and households
Buyers and sellers
Government and citizens
8
Economists assume all humans will behave…
In an economic community
Rationally
Laissez Faire
Rapidly
9
The four factors of prodcution are land, labor, ...
income, and spending
internal, and cooperative
human resources, and financial resources
capital, and entrepreneurship
10
The existance of a pure command economy is visible in...
Theory only
China
Vietnam
North Korea
11
The market equilibrium exists...
At one point in the market
Only in theory
Constantly in the market
At four points in the market
12
In market economy, government is involved in...
Industry business decisions
Very few, if any, business decisions
All business decisions
Most business decisions
13
When making a decision, rational actors will choose the…
Fastest increasing opportunity cost
Fastest declining opportunity cost
Lower opportunity cost
Higher opportunity cost
14
A rise in GDP indicates...
Fiscal output
Economic growth
Optimal levels
Circular stimulation
15
Macroeconomics focuses on decisions made by…
Specific businesses and industries
Major businesses and industries
Countries and governments
All economic actors