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Principles Of Economics WGU D089 Questions With Complete Solution Graded (A+)
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Principles Of Economics WGU D089 QuestionsWith Complete Solution Graded (A+)
Quiz :which principle of economics does the $6 price from the China vendor
represent if the company decides to produce the sheet set in its Mexico facility
- Answer :principle 2:cost is determined by what is given up also known as
opportunity cost
Quiz :which economic system is represented by thr governments actions to
regulate the production of ABC company's products - Answer :mixed
Quiz :which economies have characteristics of all the economic systems with
market system being the most prevalent - Answer :mixed
Quiz :a company that focuses its economic reasoning at a business level and
decisions focus on individuals is what - Answer :microeconomics
Quiz :what is the payment of production for a company if it buys the
additional machinery for its production facility - Answer :interest
Quiz :the payment for the use of capital is... - Answer :interest
Quiz :which term is a factor of production in a manufacturing facility -
Answer :machinery-capital factor
Quiz :Macroeconomics - Answer :a branch of economics dealing with the
performance, structure, behavior, and decision making of an economy as a
whole
Quiz :Microeconomics - Answer :a branch of economics that studies the
behavior of individuals and firms in making decisions regarding the allocation
of scare resources and interactions among these individuals and firms
Quiz :Scarcity - Answer :the basic economic problem, the gap between
limited, scare, resources and theoretically limitless wants
Quiz :3 basic economic questions - Answer :What to produce? How to
produce? For whom to produce?
, Quiz :what is a consequence of a government printing more money -
Answer :decreased unemployment
Quiz :principle 1 - Answer :People face trade-offs
Quiz :principle 2 - Answer :The cost of something is determined by what you
give up to get it
Quiz :principle 3 - Answer :Rational people think at the margin
Quiz :principle 4 - Answer :People respond to incentives
Quiz :principle 5 - Answer :trade can benefit everyone
Quiz :principle 6 - Answer :markets are sound method of organizing economic
activity
Quiz :principle 7 - Answer :governments may be able to improve market
outcomes
Quiz :principle 8 - Answer :a nation's standard of living depends on its ability
to produce
Quiz :principle 9 - Answer :printing to much money causes prices to rise
Quiz :principle 10 - Answer :there is a short run tradeoff between inflation
and unemployment
Quiz :economic systems - Answer :a system of thr production, resource
allocation, and distribution of goods and services within a society or given
geographic area
Quiz :traditional economy - Answer :a system where individuals make
decisions based on traditions, beliefs. and customs
Quiz :command economy/centralized - Answer :System where government
makes all decisions
Quiz :market economy/decentralized - Answer :A system where businesses
make decisions based on consumer demand
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