Econ 252 - Study guides, Class notes & Summaries
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ECON 252 - Purdue University 95% PROBABILITY TO BE TESTED Exam Questions & Answers 2024 (Compiled 100% Answers)
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The definition of economics states that it is the study of how _________. 
A. 
agents choose to allocate scarce resources and the impact of those choices on society. 
B. 
money influences the economy in the short run and the long run. 
C. 
businesses make decisions and how those decisions impact other firms, the government, and 
consumers. 
D. 
the government determines policies, businesses set prices, and consumers choose how much to buy. - 
 A. 
agents choose to allocate scarce resources and ...
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Econ 252 Exam Verified Questions 2024 (Compiled 100% Answers)
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potential workers - Everyone in the total population except: 
• Children under 16 years 
• Active military personnel 
• Institutionalized persons (nursing homes or jail) 
number of potential workers - 254.1 Million 
number of non potential workers - 67.3 million 
3 categories of potential workers - Employed 
Unemployed 
Not in labor force 
Employed - persons hold a paid full-time or part-time job 
Unemployed - persons without a job who have actively 
searched for one over the last four wee...
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Purdue ECON 252 90% PROBABILITY TO BE TESTED Exam Questions & Answers 2024 (200+Compiled )
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Properties of economic fluctuations - 1) Co-movement in economic aggregates 
2) Limited predictability 
3) Persistence in the rate of growth 
The Great Depression of 1929‒1933 illustrates 
the three key properties of economic fluctuations 
Aggregate - A whole formed by combining several (typically different) elements 
Marginal product of labor - When output price rises, the labor demand curve shifts to the right - 
more labor is demanded at each wage 
When output price falls, less labor is dem...
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Tyler junior college catalog 2022 2023
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Table of Contents 
ABOUT TJC 9 
Board of Trustees................................................................................ 9 
Accreditation........................................................................................ 9 
TJC Mission Statement...................................................................... 9 
TJC Vision Statement......................................................................... 9 
TJC Civility Statement...................................................
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ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES Multiple Choice Questions & Answers(ch6)
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ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES 
Multiple Choice Questions(ch6) 
32.	The set of decisions that managers make to assist the organization to achieve its goals is known as: 
A)	strategy. 
B)	scenario planning. 
C)	SWOT analysis. 
D)	diversification. 
E)	related diversification. 
Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 
33.	A broad statement of the organization's purpose, products, and customer base that differentiate the organization from its co...
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ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES
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ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGESECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES 
Multiple Choice Questions(ch6) 
32.	The set of decisions that managers make to assist the organization to achieve its goals is known as: 
A)	strategy. 
B)	scenario planning. 
C)	SWOT analysis. 
D)	diversification. 
E)	related diversification. 
Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 
33.	A broad statement of the organization's purpose, products, ...
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ECON 252 Exam 1 Study Guide
- Study guide • 11 pages • 2020
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This study guide covers all concepts up to the first exam and/or the first seven chapters of the course. Each chapter is covered in detail and includes important definitions, equations, graphs, concepts, and more! I used these notes as my primary source of study for the exam and received an A in the course. 

I created study guides not only for this course, but the majority of my courses at Purdue. Through my thorough construction of these guides, I earned an overall GPA of a 3.81 from the Krann...
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ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES
- Exam (elaborations) • 12 pages • 2022
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ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES32.	The set of decisions that managers make to assist the organization to achieve its goals is known as: 
A)	strategy. 
B)	scenario planning. 
C)	SWOT analysis. 
D)	diversification. 
E)	related diversification. 
Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 
33.	A broad statement of the organization's purpose, products, and customer base that differentiate the organization from its competitors is known as: 
A)	a funct...
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Econ 121 Final Exam Review
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Econ 121 Final Exam Review 
●	Chapter 1 Quick Check: 
1.	Accounting is the information system that… 
2.	Which of the following is not an external user of a business’s financial system? 
3.	Generally Accepted Accounting Principles (GAAP) are currently formulated by the… 
4.	Which type of business organization is owned by only one owner? 
5.	Which of the following characteristics best describes a corporation? 
6.	Which of the following requires accounting information to be complete, ne...
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ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES
- Exam (elaborations) • 12 pages • 2021
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ECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGESECON 102 CHAPTER 6 PLANNING, STRATEGY, AND COMPETITIVE ADVANTAGES 
Multiple Choice Questions(ch6) 
32.	The set of decisions that managers make to assist the organization to achieve its goals is known as: 
A)	strategy. 
B)	scenario planning. 
C)	SWOT analysis. 
D)	diversification. 
E)	related diversification. 
Answer: A Page: 251 Difficulty: Easy Learning Objective: 1 
33.	A broad statement of the organization's purpose, products, ...
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