C719 macroeconomics - Study guides, Class notes & Summaries

(Module 1) What is scarcity in economics and how does it influence choices? In economics scarcity means the inability to satisfy everyones wants as there are not sufficient resources to produce everything that people want, so scarcity forces us to CHOOSE the things we want most. (Economic models tools explain how economic systems deal with the basic problem of scarcity) A choice is a trade-offA choice that uses the available resources to best achieve the objective of the person making the ch...

WGU C719 Macroeconomics PA Exam With 100% Correct Answers 2024/2025 In the car manufacturing industry, the supply for cars has a positive slope. What happens if the price of cars increases? The supply curve will shift right. The supply curve will shift left. The supply curve will change slope. There will be a movement along the supply curve. - answerThere will be a movement along the supply curve. In the car manufacturing industry, the supply for cars has a positive slope. Which two fa...

WGU C719 Macroeconomics PA Exam With 100% Correct Answers 2024/2025 In the car manufacturing industry, the supply for cars has a positive slope. What happens if the price of cars increases? The supply curve will shift right. The supply curve will shift left. The supply curve will change slope. There will be a movement along the supply curve. - answerThere will be a movement along the supply curve. In the car manufacturing industry, the supply for cars has a positive slope. Which two fa...

WGU C719 Macroeconomics 89 Questions with 100% Correct Answers Latest Update 2023,2024..docx

WGU C719 Macroeconomics 89 Questions with 100% Correct Answers Latest Update 2023. Guaranteed S WGU C719 Macroeconomics 89 Questions with 100% Correct Answers Latest Update 2023. Guaranteed S

WGU C719 Macroeconomics 89 Questions with 100% Verified Correct Answers Latest Updated 2024

WGU C719 Macroeconomics 89 Questions with 100% Correct Answers Latest Update 2023,2024..

C719 MACROECONOMICS PRE-ASSESSMENT QUESTIONS AND ANSWERS LATEST 2022/2023

According to the production possibilities curve model, as you increase the production of one good, what will happen to the sacrifices of the alternate good? - ️️They will steadily increase. A farmer fully utilizes his resources to produce cauliflower and kale. As the farmer produces more cauliflower, he has fewer resources available to produce kale. Which curve is illustrated in this scenario? - ️️Production possibilities curve What are the main foci of economics? - ️️Consum...

In the car manufacturing industry, the SUPPLY for cars has a POSITIVE SLOPE. What happens if the PRICE of the car INCREASES? - ️️-There will be MOVEMENT along the SUPPLY CURVE In the car manufacturing industry, the SUPPLY for cars has a POSITIVE SLOPE. Which two factors can cause the SUPPLY CURVE to SHIFT? - ️️-A CHANGE in the COST OF LABOR -A CHANGE in the EXPECTATIONS ABOUT THE FUTURE Textbooks and class enrollments are COMPLEMENTS. What happens to the DEMAND CURVE f...