Abeka economics - Study guides, Class notes & Summaries

Abeka Economics Test 6 (Final Exam)

capital what type of a good is a truck used by a florist to deliver flowers physiocrats which group favored a natural economy 6 Ways to Show Appreciation for Your Child's Teacher 0:19 / 0:54 55k If Gordon accounting business had expenses = 90k and revenues totaling 115k last year but he could have had a salary of 80k working for someone else, what was his opportunity cost income effect what states that when the price of a good falls consumers tend to buy more of t...

What type of account guarantees a certain interest rate and has a specified maturity date? CD Account What type of account allows limited transactions and pays an interest rate that changes with the demand for loans? Money Market Account Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:01 / 0:15 Full screen What quality should money possess that shows its stability in value? Constancy What quality should money posses...

Adam Smith Who wrote The Wealth of Nations? E.I. du Pont Who used his resources wisely to make gunpowder for President Jefferson? Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen traditional economy What type of economy is directed by customs and habits? command economy What type of economy is directed by government? free market economy What type of economy is directed by an "invisible hand"?...

Who wrote "The Wealth of Nations"? Adam smith Who used his resources wisely to make gunpowder for President Jefferson E. L. Du pont Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen What type of economy is directed by suctoms and habits Traditional economy What type of economy is directed by government Command economy What type of economy is directed by an "invisible hand"? Free market econo...

economics term for the study of the choices that individuals and societies make in the production, distribution, and consumption of goods economy term for any system for the production, distribution, and consumption of goods and services Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:15 Full screen labor, freedom According to Albert Einstein, "Everything really great and inspiring is created by the individual who ...

Abeka Economics Final Exam Questions With Correct Answers Scarcity - answerBesides its utility, what else determines the value of a good by a consumer? property rights - answerWhat is basic component of capitalism besides limited government, freedom of enterprise, and competition? equilibrium - answerWhen supply of good increases, what tends to decrease? traditional - answerWhich economic system bases production of goods on customs and habits? command - answerWhich economic system is regu...

Wrote the wealth of nations Adam smith Used his resources wisely, made gunpowder for jefferson E.I. Dupont Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:10 / 0:15 Full screen Economy is directed by costoms and habbits Traditional Economy is directed by Government Command Economy is directed by an invisible hand Free market Economy would a communist have Command What type of good is a forkli...

ABEKA ECONOMICS Test 2

Abeka Economics Final Exam 2024 questions with complete solution Besides its utility, what else determines the value of a good by a consumer? ANS-scarcity What is basic component of capitalism besides limited government, freedom of enterprise, and competition? ANS-property rights When supply of good increases, what tends to decrease? ANS-equilibrium Which economic system bases production of goods on customs and habits? ANS-traditional Which economic system is regulated by the publi...