C719 macroeconomics - Study guides, Class notes & Summaries

C719 Macroeconomics Study Guide Questions And Answers C719 Macroeconomics Study Guide Questions And Answers

WGU C719 Macroeconomics Practice Test A Questions with answers

To economists, scarcity means that * - ️️unlimited wants cannot be satisfied by the limited resources. The table shows a production possibilities frontier for an economy. If the economy tried to produce a combination of 250 loaves of bread and 800 books, * Possibility...........Bread..........Books A.............................0....................1000 B..............................100................900 C.............................200...............700 D............................

WGU C719 Macroeconomics 2 Exam questions with answers

C719 Macroeconomics Pre-Assessment Questions | 2022 latest update

C719 MACROECONOMICS PRE-ASSESSMENT QUESTIONS AND ANSWERS LATEST 2022/2023

What is scarcity in economics and how does it influence choices? - ️️Scarcity is the inability to satisfy unlimited wants with limited resources and it makes us make choices what to do with the limited resources. Define Opportunity Cost. - ️️Opportunity costs are the cost we incur when we give up one want for another want. How does the Production Possibilities Frontier (PPF) (also called Production Possibilities Curve (PPC)) illustrate the concept of trade-offs? - ️️The PPF sho...

C719 MACROECONOMICS PRE-ASSESSMENT QUESTIONS AND ANSWERS LATEST 2022/2023

C719 – Macroeconomics Exam Questions with 100% Correct Answers | Graded A+ Scarcity - The inability to satisfy everyone's wants Microeconomics - Study of individual and business choices in the economy Macroeconomics - Study of the economy as a whole Opportunity cost - The full value of the best alternative that is given up or forgone. Production possibilities curve - Curve showing the various output combinations of two goods or groups of goods that can be produced in an economy with t...

C719 Macroeconomics: (WGU) Preassessment;Complete Quizzes According to the production possibilities curve model, as you increase the production of one good, what will happen to the sacrifices of the alternate good? correct- They will steadily increase. A farmer fully utilizes his resources to produce cauliflower and kale. As the farmer produces more cauliflower, he has fewer resources available to produce kale.