ECON test with 100 ECON test % correct an
g gg g g g g g gg
swer 2024 g
An economy that contains both perfect and imp
g g g g g g g
erfect competition and both regulated and non
g g g g g g
regulated industries is known as - answer-
g g g g g g
mixed economy g
An economys production possibilities curve cou
g g g g g
ld shift outward as a result of an - answer-
g g g g g g g g g
increased level of technology g g g
which one of the following is a charecteristic of
g g g g g g g g g
capitalism but not of communism? - answer-g g g g g g
private property g
Full employment describes the condition in whi
g g g g g g
ch - answer-
g g
95 to 96 percent of the civilian labor force is em
g g g g g g g g g g
ployed
,ECON test with 100 ECON test % correct an
g gg g g g g g gg
swer 2024 g
When different regions of a country produce dif
g g g g g g g
ferent goods - answer- g g g
the country becomes better off if the regions ar
g g g g g g g g
e pursuing their comparative advantage
g g g g
Which of the following is true of scarcity -
g g g g g g g g
ganswer-
it is a basic problem of economics that affects al
g g g g g g g g g
l nations
g
Economic growth can be illustrated by: - g g g g g g
answer-
g
an outward shift of the production possibilities
g g g g g g g
curve
Figure 2- g
2 shows the production possibilities curve of an
g g g g g g g g
economy in the production of consumption goog g g g g g
,ECON test with 100 ECON test % correct an
g gg g g g g g gg
swer 2024 g
ds and capital goods. Currently, Point ____ is im
g g g g g g g g
possible to achieve - answer-G g g g g
Generally, in economics we study how people - g g g g g g g
answer-
g
make choices when resources are scarce
g g g g g
An example of rational behavior in economics is
g g g g g g g
- answer-all of these
g g g g
in a market economy, the goods produced go to
g g g g g g g g g
those - answer- g g
who have sufficient income and are willing to p
g g g g g g g g
ay the price asked for those goods
g g g g g g
Suppose the government decided to impose a t
g g g g g g g
ac on each child born. Then, it is likely that -
g g g g g g g g g g
answer-fewer children would be born
g g g g g
, ECON test with 100 ECON test % correct an
g gg g g g g g gg
swer 2024 g
When an economic unit limits the scope of its p
g g g g g g g g g
roductive efforts instead of trying to produce ev
g g g g g g g
erything it needs, it is engaging in - answer-
g g g g g g g g
specialization
A need to make choices exist because of -
g g g g g g g g
answer-
g
both scarcity of resources and unlimited huma
g g g g g g
n needs and wants
g g g
a good economic theory - answer-
g g g g g
explains economic behavior and predicts well
g g g g g
In a cooperative form of business enterprise, a s
g g g g g g g g
hareholder is entitled to - answer-one vote g g g g g g
g gg g g g g g gg
swer 2024 g
An economy that contains both perfect and imp
g g g g g g g
erfect competition and both regulated and non
g g g g g g
regulated industries is known as - answer-
g g g g g g
mixed economy g
An economys production possibilities curve cou
g g g g g
ld shift outward as a result of an - answer-
g g g g g g g g g
increased level of technology g g g
which one of the following is a charecteristic of
g g g g g g g g g
capitalism but not of communism? - answer-g g g g g g
private property g
Full employment describes the condition in whi
g g g g g g
ch - answer-
g g
95 to 96 percent of the civilian labor force is em
g g g g g g g g g g
ployed
,ECON test with 100 ECON test % correct an
g gg g g g g g gg
swer 2024 g
When different regions of a country produce dif
g g g g g g g
ferent goods - answer- g g g
the country becomes better off if the regions ar
g g g g g g g g
e pursuing their comparative advantage
g g g g
Which of the following is true of scarcity -
g g g g g g g g
ganswer-
it is a basic problem of economics that affects al
g g g g g g g g g
l nations
g
Economic growth can be illustrated by: - g g g g g g
answer-
g
an outward shift of the production possibilities
g g g g g g g
curve
Figure 2- g
2 shows the production possibilities curve of an
g g g g g g g g
economy in the production of consumption goog g g g g g
,ECON test with 100 ECON test % correct an
g gg g g g g g gg
swer 2024 g
ds and capital goods. Currently, Point ____ is im
g g g g g g g g
possible to achieve - answer-G g g g g
Generally, in economics we study how people - g g g g g g g
answer-
g
make choices when resources are scarce
g g g g g
An example of rational behavior in economics is
g g g g g g g
- answer-all of these
g g g g
in a market economy, the goods produced go to
g g g g g g g g g
those - answer- g g
who have sufficient income and are willing to p
g g g g g g g g
ay the price asked for those goods
g g g g g g
Suppose the government decided to impose a t
g g g g g g g
ac on each child born. Then, it is likely that -
g g g g g g g g g g
answer-fewer children would be born
g g g g g
, ECON test with 100 ECON test % correct an
g gg g g g g g gg
swer 2024 g
When an economic unit limits the scope of its p
g g g g g g g g g
roductive efforts instead of trying to produce ev
g g g g g g g
erything it needs, it is engaging in - answer-
g g g g g g g g
specialization
A need to make choices exist because of -
g g g g g g g g
answer-
g
both scarcity of resources and unlimited huma
g g g g g g
n needs and wants
g g g
a good economic theory - answer-
g g g g g
explains economic behavior and predicts well
g g g g g
In a cooperative form of business enterprise, a s
g g g g g g g g
hareholder is entitled to - answer-one vote g g g g g g
