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BSNS 113- Otago| Latest Version Scarcity - ️️ - Sometime is scarce if there is not enough for everyone if it were free Implies the need for trade offs Unlimited wants - ️️ - People have unlimited wants, but the resources to satisfy those wants is limited. Positive economics - ️️ - Studying how the economy works Normative economics - ️️ - figuring out how the economy should be GDP - ️️ - Gross domestic product Measures the market value of all final goods and services i...

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BSNS 111 FINAL EXAM WITH QUESTIONS AND ANSWERS ...

BSNS 113 FINAL EXAM REVISION

QUIZ #1: Which of the following is most likely a macroeconomic topic? a. who gains and who loses from international trade b. the role of the Reserve Bank in controlling inflation c. what the "optimal" amount of pollution is d. how taxes affect people's behavior - ACCURATE ANSWERb. the role of the Reserve Bank in controlling inflation QUIZ #1: Consider the following two statements: i. Humans tend to have effectively unlimited wants for goods and services. ii. Humans should limit ...

BSNS 112 FINAL EXAM TESTBANK LATEST ALL 350 QUESTIONS AND ANSWERS

BSNS exam prep, Multiple Choice Questions And Correct Answers, With Complete Verified Solution. As price decreases (a) demand increases. (b) the demand curve shifts left. (c) the supply curve shifts right. (d) quantity demanded increases. d A general increase in consumer incomes (a) leads to a movement along the demand curve. (b) shifts the demand curve to the right. (c) shifts the demand curve to the left. (d) shifts the demand curve, but it may shift left or right. d The slope ...

BSNS113 FINAL EXAM PREP V2

What is systems thinking? : Ways of thinking which will help you to solve existing problems in the world today What are wicked problems? : Difficult or impossible to solve, made up as a product of different interconnected issues The Macro-environment : the total environment outside the firm, the comprehensive societal context in which the organization resides Cost of living crisis, use of child labor in supply change, climate change : Examples of wicked problems Capitalism : An econom...

BSNS 112 Exam Questions and answers | Updated 2024/25