Macroeconomics wgu - Study guides, Class notes & Summaries

WGU - D089 - Principles of Economics Questions With Verified Solutions Macroeconomics - ANS A branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole Microeconomics - ANS A branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms Scarcity - ANS The basic economic problem; the gap between limi...

WGU D089: Module 1 Questions and Answers Graded A What are the three fundamental questions every economy must answer? Give an example of a "What" question. What to produce, how it will be produced, and from whom the goods or services are produced. What to produce (Oil vs. Cattle), How to (Current vs. New technology), From who to produce What do economists mean when they say that people "think at the margin"? Thinking about the next step or an additional action means for a person. Accordin...

WGU D089 Principles of Economics Exam Study Guide 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 -principle 2:cost is determined by what is given up also known as opportunity cost which economic system is represented by thr governments actions to regulate the production of ABC company's products -mixed which economies have characteristics of all the economic systems with market syst...

Economics - Answer- The study of how humans make decisions in the face of scarcity. Factors of Production - Answer- Describes theninputs used in the production of goods or services to make an economic profit. Macroeconomics - Answer- A branch of economic dealing with the performance, structure, behavior and decision making of an economy as a whole. Microeconomics - Answer- A branch of economics that studies the behavior of individuals, and firms in making decisions regarding the allocat...

WGU C201 Business Acumen Chapters 3 & 7: Economics and Organizational Structure. Exam Review. Graded A+ Factors Influencing Demand - -Demand is driven by price, consumer preferences, the economy, the number of buyers in a market, customer incomes, price of substitutes and complimentary items. Factors of Production - -Natural resources, capital, human resources and entrepreneurship. What is the key factor influencing demand? - -Price Demand Curve - -A graph of the amount of a product bu...

WGU C719 Macroeconomics Study Guide Questions And Answers Scarcity limited quantities of resources to meet unlimited wants opportunity cost cost of the next best alternative use of money, time, or resources when one choice is made rather than another How does the production possibilities frontier illustrate the concept of trade-offs? when an economy is operating on the PPF curve it is efficient. It is not possible to produce more of one good without decreasing the amount produced for the o...

WGU C719 Macroeconomics Exam 3 Questions with answers.

WGU C483 Practice Test 2 100% Correctly Solved 1.)The planning level with the shortest time horizon is known as _____ planning. A)operational B)tactical C)managerial D)developmental E)vertical - Answer- A.) Operational 2.)The planning process is similar to the _____ process in that both have a series of steps that are typically repeated in a cycle. A)strategy-mapping B)tactical alignment C)goal-setting D)decision-making E)environmental analysis - Answer- D.) Decision-making 3.)In a...

WGU - D089 - Principles of Economics Q & A Verified 100% Correct!!