Economics (2011) help please.....?

Answers:72   |   LastUpdateAt:2018-07-28 02:50:23  

Asked at 2012-08-11 02:47:02
1.It 's vacation time, and Jason entered the packaging business. It's been a busy day, and wants to go home. He discovered that the cost of an additional gift wrap is $ 0.50. It also charges $ 1.00 to wrap a gift. What decision would you best?

an extra gift wrapping
Do not wrap an extra gift

2.You have found that the marginal cost and marginal benefit of buying an additional batter. In 2-3 sentences, describe how to use these measurements to make a decision that makes it better.

3.Consumers, producers, workers, savers, investors and citizens respond to incentives to allocate their scarce resources and receive _____.

low marginal costs
lower expected utility
highest possible benefits

4.People that make goods and services are called _____.


5.Scarcity is the condition of not having enough goods and services to meet the world _____.

costs benefits

6.Going to a concert, a haircut, and go to the doctor, are examples of _____.


7.Because they can not have everything they want, people do. _____


options consequences

8.In the United States, people are elected to office on the basis of various receiving most votes. This distribution system is called _____.

personal characteristics
competition policy
majority rule

9.On 1-2 sentences, compare and contrast the freedom of consumers and producers in the free market and command economies.

10.Nonrenewable Resources include _____.

land, air and water
fossil fuels and minerals
people and machines

11.Given the same options, people make different decisions. This is because people are _____.

Individual preferences
it tastes

same fringe benefits
12.Select the elements that describe the incentives.

rewards or penalties can be
influence future actions
encourage people to act

can be monetary or nonmonetary
13.Lucy was trying to decide between three options for food: pizza, salad, or burger. She chose the salad. In this case, the salad represents its _____.


14.Select the elements that may influence your decision process for buying a cell phone.

peer pressure price of the phone

15.Free market economies use (price, government or command) to distribute goods, services and resources.

16.Items that will save you money by allowing you to pay a relatively low price for a good or service are _____.

opportunity costs and tradeoffs
marginal benefits and marginal costs
Shopping coupons and comparative
17.You decide to eat a chip. The change in total amount of cattle derived from this action is the _____.

marginal cost
marginal benefit maximize utility

18.Amanda invested their money with a company called Outstanding Investments. He earned a lot of money on their investments. Most likely encourage Amanda (spend less money, withdraw money, invest more money) Investments outstanding.

19.To assign means to _____.

given free
used to

20.A machine used to sew shirts is called a _____.

capital good

of natural resources
nonrenewable resource
21.Paul had three ways to use their pocket money: spend, save or donate. He decided to donate his money to charity. Any security given for not choosing to spend or save money is the _____.

opportunity cost
marginal cost trade-off

22.Select all the elements involved in the marginal analysis.

calculating the marginal cost of an election
choose the option that makes you worse
randomly making a decision
calculate the marginal benefit of an alternative

23.Each decision is something you give up, called the _____.


24.When making a decision that will leave you better off, try _____.

reduce costs
maximize the satisfaction of
choose each option

25.You are online at the movies waiting to buy a ticket. The allocation of banknotes in this way is an example of _____.


first come share equally

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