Post scarcity world Study guides, Class notes & Summaries

Hayek's argument - ANSWER-He asserts that a centrally planned economy could never match the efficiency of the open market because what is known by a single agent is only a small fraction of the sum total of knowledge held by all members of society. A decentralized economy thus complements the dispersed nature of information spread throughout society. 3 main point of Hayek - ANSWER-Information is needed for rational economic order Information is decentralized dispersed knowledge Price m...

NYSTCE CST 245 Arts and Science Latest 2023 Rated A+ Seasonal changes moon orbits earth once per month Yearly Changes earth orbits around the moon one time per year physical change A change in a substance that does not change its identity chemical change charastics change in state or phase transformation of energy examples Chemical Energy is converted to Electrical Energy (stove), Kinetic Energy (car), Electricity (power plant), and Mechanical Energy (space shuttle). Electricity is converted...

Read the excerpt below and answer the question. When the stars threw down their spears ("The Tyger," line 17) These words are an example of _____. Personification William Blake lived between the Neoclassical and _____ periods. Romantic What type of scene does Blake set for "The Lamb"? Pastoral Read the excerpt below and answer the question. In what distant deeps or skies Burnt the fire of thine eyes? ("The Tyger," lines 5-6) In this excerpt, Blake is using what figure of...

Buying stock on the margin is a way to use leverage. - ANSWER-True Austrian economists tend to favor free market solutions to economic problems, and Keynesians tend to favor an active government. - ANSWER-True If a product faces an elastic demand curve, total revenue will increase when the price increases. - ANSWER-False Opportunity cost is - ANSWER-that which you give up in the best alternative choice when making a decision An increase in gross domestic product (GDP) would be a posi...

Hayek's argument - ANSWER-He asserts that a centrally planned economy could never match the efficiency of the open market because what is known by a single agent is only a small fraction of the sum total of knowledge held by all members of society. A decentralized economy thus complements the dispersed nature of information spread throughout society. 3 main point of Hayek - ANSWER-Information is needed for rational economic order Information is decentralized dispersed knowledge Price m...

Subject 1- OATLEY What are the four areas studied in IPE? 1. Intl. Trade system (WTO and GATT) 2. Intl. Monetary System- (exchange rates) 3. MNCs 4. Economic Development Subject 1- OATLEY What are the 2 questions that all IPE theories answer? 1. How exactly does politics shape the decisions that societies make about how to use resources available to them? 2. What are the consequences of these decisions? Subject 1- OATLEY What are the 2 methods of answering the centra...

ECON 1150 Midterm questions and answers 2023 Scarcity the limited nature of society's resources Economics the study of how society manages its scarce resources Society's Scarce Resources - how people decide how much to work, save, and spend, and what to buy - how firms decide how much to produce, what to produce, and how many workers to hire - how society decides how to divide it's resources beteeen national defense, consumer goods, protecting the environment, and other ne...

CFPT Questions And Answers CFPT Practice Questions The capacity of news media to select some aspects of a story that promote a particular problem definition, interpretation, moral evaluation, and/or treatment recommendation is known in the media as: a) agenda setting b) cultivation c) framing d) priming - ANS c) framing Which of the following is a daily newspaper published in the UK? a) The Independent b) Time Out c) The Daily Herald d) The Observer - ANS ...

Economics - answer-- the study or science of production, distribution, and consumption -the study of how society manages its scarce resources Society and Scarce Resources - answer--The management of society's resources if important because resources are scarce -Scarcity implies choice and choice implies cost Scarcity - answer--society has limited resources and therefore cannot produce all the goods and services people wish to have -Not enough resources are available to satisfy one's ...

CFPT Practice Questions With Correct Answers CFPT Practice Questions The capacity of news media to select some aspects of a story that promote a particular problem definition, interpretation, moral evaluation, and/or treatment recommendation is known in the media as: a) agenda setting b) cultivation c) framing d) priming - ANS c) framing Which of the following is a daily newspaper published in the UK? a) The Independent b) Time Out c) The Daily Herald d) The...