WGU D089 PRINCIPLES OF ECONOMICS 2025/2026
EXAM WITH COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (EXPERT
Page | 1
VERIFIED) FOR GUARANTEED PASS
TOP RATED A+.
WGU - D089
Ace your WGU D089 - Principles of Economics exam 2025/2026 with
confidence. Features s key concepts from both microeconomics and
macroeconomics. Designed to help you understand economic models,
market behavior, and fiscal policy.
Macroeconomics ...... ANSWER ...... A branch of
economics 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 allocation of scarce
resources and the interactions among these individuals and
firms
Scarcity ...... ANSWER ...... The basic economic
problem; the gap between limited, scarce , resources and
theoretically limitless wants
, Opportunity cost ...... ANSWER ...... The next best
Page | 2
alternative that is given up when a choice is made
Think at the margin ...... ANSWER ...... Thinking
about what the next step or an additional action means for
a person
Marginal benefit ...... ANSWER ...... The incremental
increase in the benefit to a consumer caused by the
consumption of one additional unit of a good or service
Principles of Economics #1 ...... ANSWER ......
Everyone faces trade-offs
Principles of Economics #2 ...... ANSWER ...... The
cost of something is determined by what you give up to get
it
Principles of Economics #3 ...... ANSWER ......
Rational people think at the margin
, Principles of Economics #4 ...... ANSWER ...... People
respond to incentives
Page | 3
Principles of Economics #5 ...... ANSWER ...... Trade
can benefit everyone
Principles of Economics #6 ...... ANSWER ......
Markets are a sound method of organizing economic
activity
Principles of Economics #7 ...... ANSWER ......
Governments may be able to improve market outcomes
Principles of Economics #8 ...... ANSWER ...... A
nation's standard of living depends on it's ability to
produce.
Principles of Economics #9 ...... ANSWER ......
Printing too much money causes prices to rise
, Principles of Economics #10 ...... ANSWER ...... There
is a short-run trade-off between inflation and
unemployment
Page | 4
Economic systems ...... ANSWER ...... A system of the
production, resource allocation, and distribution of goods
and services within a society or a given geographic area
Traditional Economy ...... ANSWER ...... An economic
system that relies on customs, history, and time-honored
beliefs. Tradition guides economic decisions such as
production and distribution
Command Economy ...... ANSWER ...... An economic
system in which production, investment, prices, and
incomes are determined centrally by a government
Market Economy ...... ANSWER ...... An economic
system in which the decisions regarding investments,
production, and distribution are guided by the price signals
created by the forces of supply and demand
EXAM WITH COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (EXPERT
Page | 1
VERIFIED) FOR GUARANTEED PASS
TOP RATED A+.
WGU - D089
Ace your WGU D089 - Principles of Economics exam 2025/2026 with
confidence. Features s key concepts from both microeconomics and
macroeconomics. Designed to help you understand economic models,
market behavior, and fiscal policy.
Macroeconomics ...... ANSWER ...... A branch of
economics 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 allocation of scarce
resources and the interactions among these individuals and
firms
Scarcity ...... ANSWER ...... The basic economic
problem; the gap between limited, scarce , resources and
theoretically limitless wants
, Opportunity cost ...... ANSWER ...... The next best
Page | 2
alternative that is given up when a choice is made
Think at the margin ...... ANSWER ...... Thinking
about what the next step or an additional action means for
a person
Marginal benefit ...... ANSWER ...... The incremental
increase in the benefit to a consumer caused by the
consumption of one additional unit of a good or service
Principles of Economics #1 ...... ANSWER ......
Everyone faces trade-offs
Principles of Economics #2 ...... ANSWER ...... The
cost of something is determined by what you give up to get
it
Principles of Economics #3 ...... ANSWER ......
Rational people think at the margin
, Principles of Economics #4 ...... ANSWER ...... People
respond to incentives
Page | 3
Principles of Economics #5 ...... ANSWER ...... Trade
can benefit everyone
Principles of Economics #6 ...... ANSWER ......
Markets are a sound method of organizing economic
activity
Principles of Economics #7 ...... ANSWER ......
Governments may be able to improve market outcomes
Principles of Economics #8 ...... ANSWER ...... A
nation's standard of living depends on it's ability to
produce.
Principles of Economics #9 ...... ANSWER ......
Printing too much money causes prices to rise
, Principles of Economics #10 ...... ANSWER ...... There
is a short-run trade-off between inflation and
unemployment
Page | 4
Economic systems ...... ANSWER ...... A system of the
production, resource allocation, and distribution of goods
and services within a society or a given geographic area
Traditional Economy ...... ANSWER ...... An economic
system that relies on customs, history, and time-honored
beliefs. Tradition guides economic decisions such as
production and distribution
Command Economy ...... ANSWER ...... An economic
system in which production, investment, prices, and
incomes are determined centrally by a government
Market Economy ...... ANSWER ...... An economic
system in which the decisions regarding investments,
production, and distribution are guided by the price signals
created by the forces of supply and demand
