Product code Economics-Quizlet157
1Q-What is a positive statement?
2Q-What is a normative statement?
3Q-Can a positive statement be wrong?
4Q-What is the basic economic problem?
5Q-How do individuals and societies minimise the economic problem?
6Q-What are economic goods?
7Q-What are free goods?
8Q-What is opportunity cost?
9Q-What is an example of a free good?
10Q-What are the four factors of production?
11Q-What is scarcity?
12Q-What is land?
13Q-What is labour?
14Q-What is capital?
15Q-What is enterprise?
16Q-What is the reward of Land?
17Q-What is the reward of labour?
18Q-Why are employers willing to pay a higher wage/salary to more skilled labour.
19Q-What is the reward of capital?
20Q-What is the reward of enterprise.
21Q-How could a PPC shift outward?
22Q-What is productivity?
23Q-How could a PPC shift inward?
24Q-What are the advantages of specialization?
25Q-What are the disadvantages of specialization?
26Q-What are the advantages of the Free Market Economy?
27Q-What are the disadvantages of the free market economy?
28Q-What are the advantages of a centrally planned economy?
29Q-What are the disadvantages of a centrally planned economy?
1Q-What is a positive statement? 1A-A statement about 'what is', a statement of fact, based on theory or evidence.
Essay writing help service
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Instructions: To complete this task and assessment requirements for this unit of study, you will submit the final draft of the essay that builds on the work you completed in SWTs 1- -?4. You should ...
Implementation of national emissions trading scheme in 2017 have been announced by China in a joint statement with the US. The two countries are the two biggest polluters on the planet have agreed ...
Equine Industries is considering a proposal to manufacture a high-protein horse feed. The project would ...
In recent times it has been suggested that university graduates can be divided into two groups, those who graduated from a business degree and those who did not. Suppose yo ...
Objective of this assignment
The objective is to place the student in the position of a management accounting role wit ...