economicals

a society decides that it needs to produce more corn to feed the growing population. what must it do before it begins the production process ?

analyze existing resources, such as water availability

if a specific economy has extra capital resources available, it will

be able to produce more goods and services needed and wanted by society

which of the following best illustrates the importance of addressing the three questions of economics

businesses need to use limited resources wisely

which of the factors of production will the company need to address most closely when making its decision to expand

capital

what is one way a command economy affects the lives of private citizens

citizens cannot make most economic decisions

the goal of a command economy is to

create equality within a society

a mixed market economy tends to exist under a

democratic government that provides some regulation

which of the following will be accomplished by efficient allocations of the factors of production

fulfilling many needs and wants if society

how does the economy of cuba differ from the economy of north korea

in cuba the governments control of the economy has begun to loosen. in north korea the government maintains a tight hold over the economy

which of the following is an example of a capital resource

loom

which factors are considered when deciding how to make goods and services

methods traditionally used to make a good, ways to produce items at a lower cost or higher quality, ways to make the biggest profit

the citizens of the united states live and work in a

mixed market economy

zahara smith is wondering how she can make her check stretch enough to afford her monthly cable, water, grocery, and cell phone bills. zahara is concerned with

needs and wanta

fantastic snack company has spent months developing a new type of snack chip, but the chips are not selling. which of the following is the most likely mistake fantastic snack company made ?

not meeting the wants of its consumers.

the goal of a market economy is to

promote free economic choices

which of the following best illustrates deciding how to produce a specific product

should we produce jeans with expensive machinery or less expensive labor

a command economy tends to exist under a

socialist government that provides a lot of regulation

how does the government of a republic typically shape its economy

the government allows citizens to own private businesses

what is prohibited in a command economy

the personal ownership of property, the influence of customer demand

one of the three economic questions deals with deciding

what goods and services should be produced

which consideration must be addressed when deciding for whom to produce

who has the greatest need

the questions of economics address which of the following

who, what, how