apex 1.1 quiz economics – Flashcards
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wants
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in the game of economics, goods are objects that fulfill peoples needs and____.
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the production of goods and services
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which of these activities is most essential to the game of economics ?
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no matter how much people produced, people will always want more
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which of the following explains why scarcity cannot be eliminated ?
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cleaning your room
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which of the following is not considered a game?
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role
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in every game, all of the players have which of the following?
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different people want different things out of life
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which of the following best explains why the game of economics doesn't have a single goal?
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when you do something with as little waste as possible
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which of the following situations is one where the goal is efficiency is being met?
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winners teams positions
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which of the following are not features of all games?
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human effort and ideas drive production
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which of the following best describes what labor directly contributes to production?
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what is to be produced?
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what is the first question that needs to be answered when organizing an economy?
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job
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which word best describes the following sentence? players role is his/her ___ in a game.
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a player who cheats at cards is eliminated
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which of the following describes an action that services the goal of equity ?
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there are different and incompatible economic goals
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which of the following best explains why the game of economics is about making all action decisions?
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demand will always be greater than supply
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which of the following explain scacity is a basic fact of life?
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evacuation
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which of the following doesn't take place in economics?
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energy from the environment fuels production
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which of the following is one way that land contributes to production?
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playing solitaire
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some activity's can be called games , which of these activities is a game?
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1 or more players a set of rules
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which of the following must an activity have in order to be considered a game?
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some goals are incompatible with each other
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which of the following best explains why all goals cannot be me in economics?
