Why is the slow growth that can result from a contractionary policy a positive effect?
It can increase interest rates. It can decrease available credit.
Which of these practices describe how producers in oligopolies generally try to create competition quizlet?
The practices that describe how producers in oligopolies generally tried to create competition are, by
offering promotions, advertising, and cultivating brand loyalty
.
What is one example of a closed economy quizlet?
What is one example of a closed economy?
It costs Cool Clothes Company $15 to produce one pair of jeans, but they needed to discontinue production of shirts to focus on jeans.
What is the one main objective in the study of economics?
Economics seeks
to solve the problem of scarcity
, which is when human wants for goods and services exceed the available supply.
Which best describes what happens to a corporation after its owners retire quizlet?
Which best describes what happens to a corporation after its owners retire?
not It transfers to new owners. It continues in business.
What are two steps a producer can take to gain an absolute advantage quizlet?
What are the two steps a producer can take to gain an absolute advantage?
Produce more goods. Use high-quality resources. Produce more expensive goods.
Which are affected by the factors of production choose three answers quizlet?
The factors of production include
land, labor, capital and entrepreneurship
. all naturally occurring resources whose supply is inherently fixed.
What is an example of a closed economy?
Example of a Closed Economy
Brazil imports the least amount of goods
—when measured as a portion of the gross domestic product (GDP)—in the world and is the world’s most closed economy. … In Brazil, only the largest and most efficient companies with significant economies of scale can overcome barriers to export.
Does a closed economy allow financial intermediation?
The economy’s stock market is associated with equity finance.
A-does not allow financial intermediation
. Consider a closed economy with a government deficit and positive investment.
What is a closed economy quizlet?
Closed economy.
an economy that does not trade with the rest of the world
.
competitive equilibrium
. a state of the economy where prices and quantities are such that the behavior of price-taking consumers and firms is consistent. crowding out.
What are three reasons to study economics?
- Informs decisions. Economists provide information and forecasting to inform decisions within companies and governments. …
- Influences everything. Economic issues influence our daily lives. …
- Impacts industries. …
- Inspires business success. …
- International perspective.
What are the four key elements in the scope of economics?
Key Takeaways
Four key economic concepts—
scarcity, supply and demand, costs and benefits, and incentives
—can help explain many decisions that humans make.
What is an example of a problem in the world today that has an economic dimension?
These problems include
global inequality and unequal economic development
, global poverty, the exhaustion of non-renewable resources, depletion of the environment and global warming, and systemic problems associated with inadequate regulation of financial markets.
Which best describes what happens to a corporation after its owner retires?
The answer is:
It continues in business
. > When a shareholder retires, the corporation can continue to operate. The structure of the corporation will determine the outcome of the corporation’s existence.
What role do special government agencies play in protecting buyers quizlet?
They collect customer fraud complaints. Explanation: The special government agencies that play the role of protecting buyers is called
The Consumer Protection Agency
. They do not help customers in determining marginal cost, that is the sole function of the individuals.
Which situation is an example of comparative advantage in an international market quizlet?
Which situation is an example of comparative advantage in an international market?
Factories in Country A can produce the same number of tablets as factories in Country B
, or the factories in Country A could be used to build more laptops than the factories in Country B.
