Laws in macroeconomics - Study guides, Class notes & Summaries

Economics - Unit 1 Economics Fundamentals 100% Pass economics 1. the study of how individuals and nations make choices about ways to use scarce resources to fulfill their needs and wants 2. Social science that deals with the study of the production, consumption, distribution of goods and services and the transfer of wealth to obtain those goods and services. scarcity a situation in which unlimited wants exceed the limited resources available to fulfill those wants trade-offs giving up one thi...

Macroeconomics - A branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole Microeconomics - A branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms Scarcity - The basic economic problem; the gap between limited, scarce , resources and theoretically limitless wants Opportunity cost - The next b...

Primavera Economics 2023 Vocabulary Exam 100% Pass Read the sentence. The term _________ is defined as the ability of a borrower to have access to money from a lender and then to pay back the lender in the future, usually with interest. Which best completes the sentence? Credit. Which law, signed in 2012, gives private companies more access to capital and makes it easier for certain companies to go public on US stock exchanges? JOBS Act Read the sentence. A(n) __________ is regular payment ...

Economics Vocabulary Exam 100% Correct What is the definition of economics? laws for the home What are the four Ps of marketing, also known as the marketing mix? product, price, promotion, and place What is defined as income available after taxes and other mandatory expenses? disposable income What is a plan for spending your money to meet your wants and needs? budget Read the sentence. A __________ card is issued by a credit union or bank and allows the user to purchase goods and services ...

Chapter 4—Price: The Role of Demand and Supply MULTIPLE CHOICE 1. 2. 3. 4. 5. 6. For demand to exist, there must be a. a desire and an ability to buy. b. a supply of the product in the market. c. a price that is low enough to permit all consumers to afford the product. d. All of these. ANS: A PTS: 1 DIF: Easy NAT: TOP: B-Head: Law of Demand KEY: Bloom's: Knowledge The demand for a product at a given time is defined as the a. desire for it. b. sum spent on it. c. measure of to...

Chapter 4—Price: The Role of Demand and Supply MULTIPLE CHOICE 1. 2. 3. 4. 5. 6. For demand to exist, there must be a. a desire and an ability to buy. b. a supply of the product in the market. c. a price that is low enough to permit all consumers to afford the product. d. All of these. ANS: A PTS: 1 DIF: Easy NAT: TOP: B-Head: Law of Demand KEY: Bloom's: Knowledge The demand for a product at a given time is defined as the a. desire for it. b. sum spent on it. c. measure of to...

Social Studies MOCA Questions and Answers Already Graded A What was the main purpose of the Declaration of Independence? To declare independence from Great Britain What is an example of scarcity? Only having $1 at the vending machine What is the first thing you do when buying a stove? Research warranties and functions Which biome is cold, semiarid with vegetation? Cold Dessert Why has the internet made us more independent? Online shopping What causes people to spread out in the Middle East?...

Principles of Microeconomics Exam Questions And Answers (Verified And Updated) Scarcity - answera situation in which unlimited wants exceed the limited resources available to fulfill those wants shortage - answera situation in which the quantity demanded is greater than the quantity supplied microeconomics - answerthe study of how households and firms make choices, how they interact in markets, and how the government attempts to influence their choices macroeconomics - answerthe study o...

Deadweight Cost Net losses that occurs in an economy as a result of tariffs Purchasing Power Parity (PPP) A conversion that determines the equivalent amount of goods and services different currencies can purchase. An adjustment to reflect the differences in the cost of living in various countries Triad North America, Western Europe, and Japan Resource Based View An organization's resources and capabilities, NOT external conditions, should be the basis for strategic deci...

Primavera Economics 2023 Review Questions with Complete Solutions What are some examples of the benefits that come from understanding personal finance? (Select all that apply.) Knowing the difference between debit and credit cards, Understanding every choice has a cost, either positive or negative. What is the best time to start planning for retirement? As early as possible. Read the following two questions. Should we have retail stores, or sell our product entirely online? Should we have oth...