Wgu d089 module 1 Study guides, Class notes & Summaries

WGU D089 - Module 1 with Complete Solutions Already Graded A capital - ️️ a factor of production that is made to produce other things (tools, equipment, etc.) circular flow diagram - ️️ a diagram that views the economy as consisting of households and firms interacting in a goods and services market and a factor market entrepreneurship - ️️ a person who seeks to earn profits by finding new ways to organize factors of production (creating new products or ways of doing things) f...

D089 - Module 1 CI Practice D089 Course Instructors have created this resource to help develop your knowledge of the concepts in Module 1. We recommend reading the material in your Acrobatiq text and watching the videos before working on the questions. Please note that these questions do not come from the actual assessment. Course Instructors are not privy to information on the assessment. If you have any questions, please feel free to reach out to us at . Points: 11/13 Correct 1/1 Poin...

What are the three fundamental questions every economy must answer? Give an example of a "What" question. correct answersWhat to produce, how it will be produced, and from whom the goods or services are produced. What to produce (Oil vs. Cattle), How to (Current vs. New technology), From who to produce What do economists mean when they say that people "think at the margin"? correct answersThinking about the next step or an additional action means for a person. According to the 10 Princ...

What are the three fundamental questions every economy must answer? Give an example of a "What" question. - Answer- What to produce, how it will be produced, and from whom the goods or services are produced. What to produce (Oil vs. Cattle), How to (Current vs. New technology), From who to produce What do economists mean when they say that people "think at the margin"? - Answer- Thinking about the next step or an additional action means for a person. According to the 10 Principles of E...

WGU D089 - Module 1 with Complete Solutions Already Graded A capital - ️️ a factor of production that is made to produce other things (tools, equipment, etc.) circular flow diagram - ️️ a diagram that views the economy as consisting of households and firms interacting in a goods and services market and a factor market entrepreneurship - ️️ a person who seeks to earn profits by finding new ways to organize factors of production (creating new products or ways of doing things) f...

What are the three fundamental questions every economy must answer? Give an example of a "What" question. - What to produce, how it will be produced, and from whom the goods or services are produced. What to produce (Oil vs. Cattle), How to (Current vs. New technology), From who to produce What do economists mean when they say that people "think at the margin"? - Thinking about the next step or an additional action means for a person. According to the 10 Principles of Economics, what d...