Please enter something
Home Page Social Science Economics Economics: Chapter 2 Section 1 Answers - Flashcards

Economics: Chapter 2 Section 1 Answers – Flashcards

Josephine Mack
8 July 2022
8 test answers

Unlock all answers in this set

Unlock answers 8
question
the structure of methods and principles that a society uses to produce and distribute goods and services
answer
economic system
question
the income people receive in return for supplying factors of production
answer
factor payment
question
the amount of money a business receives in excess of its expenses
answer
profit
question
a set of government programs that protect people who face unfavorable economic conditions
answer
safety net
question
level of economic prosperity
answer
standard of living
Unlock the answer
question
the process of bringing new methods, products, or ideas into use
answer
innovation
Unlock the answer
question
an economic system that relies on habit, custom, or ritual to decide the three key economic questions
answer
traditional economy
Unlock the answer
question
-What goods and services should be produced? -How should these goods and services be produced? -Who consumes these goods and services?
answer
three key economic questions
Unlock the answer
Get an explanation on any task
Get unstuck with the help of our AI assistant in seconds
New
Get unstuck with AI assistant right now
  • Enter your topic/question
  • Receive an explanation
Pro tips to get quality response
  • Ask one question at a time
  • Enter a specific assignment topic
  • Aim at least 500 characters
Question
What is the right structure for an essay
Answer
A paragraph is a related group of sentences that develops one main idea. Each paragraph in the body of the essay should contain:
  • a topic sentence that states the main or controlling idea
  • supporting sentences to explain and develop the point you’re making
  • evidence from your reading or an example from the subject area that supports your point
  • analysis of the implication/significance/impact of the evidence finished off with a critical conclusion you have drawn from the evidence.