WGU D089 STUDY GUIDE EXAM WELL ANSWERED 100%.

which principle of economics does the $6 price from the China vendor represent if the company decides to produce the sheet set in its Mexico facility - Answer principle 2:cost is determined by what is given up also known as opportunity cost which economic system is represented by thr governments actions to regulate the production of ABC company's products - Answer mixed which economies have characteristics of all the economic systems with market system being the most prevalent - Answer mixed a company that focuses its economic reasoning at a business level and decisions focus on individuals is what - Answer microeconomics what is the payment of production for a company if it buys the additional machinery for its production facility - Answer interest the payment for the use of capital is... - Answer interest which term is a factor of production in a manufacturing facility - Answer machinery-capital factor Macroeconomics - Answer a branch of economics dealing with the performance, structure, behavior, and decision making of an economy as a whole Microeconomics - Answer a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scare resources and interactions among these individuals and firms Scarcity - Answer the basic economic problem, the gap between limited, scare, resources and theoretically limitless wants