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