WGU D089 EXAM 2024/2025 WITH 100% CORRECT ANSWERS
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A property owner has 500 acres of flat land and has been approached by
two different businesses. One business wants to drill for oil, and the
other wants to raise cattle - correct answer What to produce?
A well-established company has been producing goods and wants to
create a new line of production. The company needs to decide whether it
should use a current factory or find a new location. - correct answer
How to produce it?
To address environmental concerns, Congress is considering a bill that
would increase the price of electricity generated by coal. Increasing the
price of electricity creates a problem for low-income household -
correct answer For whom to produce?
Which scenario matches Principle 4 of economics - people respond to
incentives? - correct answer A sales manager offers a higher percentage
of commission for a product that is not selling well
Principle 5: Trade can leave everyone in a better position - correct
answer A farmer is really good at growing corn and exchanges the corn
for meat and supplies
, Principle 6: Markets are a sound method of organizing economic activity
- correct answer Multiple producers and consumers exchange goods
and services
Principle 7: Governments sometimes have the ability to better market
outcomes - correct answer Companies face regulation when they create
a monopoly in their industry
What is a consequence of a government printing more money? - correct
answer Decreased Unemployment - printing more money causes
inflation and can lead ot more jobs
What is a benefit of using a traditional economic system? - correct
answer Everyone knows their role in the market
Which characteristic is associated with a command economy? - correct
answer Competition is limited
What is an advantage of a market economy? - correct answer
Innovation is encouraged and rewarded
What is a disadvantage of a mixed economic system? - correct answer
Freedom of choice can fluctuate from too much or too little
Which economic framework would a student use to study inflation in a
country over past years? - correct answer Macroeconomics
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