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Notgrass Exploring Economics Units 1-5 Questions and Answers (100% Pass)
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Notgrass Exploring Economics Units 1-5 Questions and Answers (100% Pass)
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©PREP4EXAMS@2024 [REAL EXAM DUMPS] Monday, July 22, 2024 1:06 PMNotgrass Exploring Economics Units 1-5
Questions and Answers (100% Pass)
The Greek word form which we get the word economics is: - ✔️✔️oikonomos
Microeconomics is: - ✔️✔️the examination of how individual households and companies make
decisions and how buyers and sellers interact in the market
A market economy: - ✔️✔️people participating in the market of buying/selling goods and services
make decisions (who gets what for what price)
A command economy: - ✔️✔️government officials make decisions about who gets what for what
price in the market place
Besides the kingdom of God, what subject did Jesus talk about the most? - ✔️✔️money
To what did Paul compare greed in Colossians 3:5? - ✔️✔️idolatry
Under the Articles of Confederation, the United States - ✔️✔️had no national currency.
The Constitution gave Congress the power to: - ✔️✔️Regulate interstate commerce
Capitalism and socialism differ in terms of: - ✔️✔️who makes decisions
Public choice theory emphasizes the role in decision-making that is played by: - ✔️✔️self-interest
marginal benefit - ✔️✔️the change in total benefit that results from an action
margin - ✔️✔️a small step that makes a big difference in an action taken (lots of crumbs make a
cake!)
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