1
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principles of economics WGU D089
Questions and Answers (100% Correct
Answers) Already Graded A+
which principle of economics does the $6 price from the China
vendor represent if the company decides to produce the sheet
set in its Mexico facility [ANS:] principle 2:cost is determined by
what is given up also known as opportunity cost
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which economic system is represented by thr governments actions
to regulate the production of ABC company's products [ANS:]
mixed
Guru01 - Stuvia
which economies have characteristics of all the economic
systems with market system being the most prevalent [ANS:] mixed
a company that focuses its economic reasoning at a business
level and decisions focus on individuals is what [ANS:]
microeconomics
what is the payment of production for a company if it buys the
additional machinery for its production facility [ANS:] interest
the payment for the use of capital is... [ANS:] interest
which term is a factor of production in a manufacturing facility
[ANS:] machinery-capital factor
Macroeconomics [ANS:] a branch of economics dealing with the
performance, structure, behavior, and decision making of an
economy as a whole
, 2
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Microeconomics [ANS:] a branch of economics that studies the
behavior of individuals and firms in making decisions regarding the
allocation of scare resources and interactions among these
individuals and firms
Scarcity [ANS:] the basic economic problem, the gap between
limited, scare, resources and theoretically limitless wants
3 basic economic questions [ANS:] What to produce? How to
produce? For whom to produce?
© 2025 Assignment Expert
what is a consequence of a government printing more money
[ANS:] decreased unemployment
principle 1 [ANS:] People face trade-offs
Guru01 - Stuvia
principle 2 [ANS:] The cost of something is determined by what
you give up to get it
principle 3 [ANS:] Rational people think at the margin
principle 4 [ANS:] People respond to incentives
principle 5 [ANS:] trade can benefit everyone
principle 6 [ANS:] markets are sound method of organizing
economic activity
principle 7 [ANS:] governments may be able to improve market
outcomes
principle 8 [ANS:] a nation's standard of living depends on its
ability to produce
principle 9 [ANS:] printing to much money causes prices to rise
For Expert help and assignment solutions, +254707240657
principles of economics WGU D089
Questions and Answers (100% Correct
Answers) Already Graded A+
which principle of economics does the $6 price from the China
vendor represent if the company decides to produce the sheet
set in its Mexico facility [ANS:] principle 2:cost is determined by
what is given up also known as opportunity cost
© 2025 Assignment Expert
which economic system is represented by thr governments actions
to regulate the production of ABC company's products [ANS:]
mixed
Guru01 - Stuvia
which economies have characteristics of all the economic
systems with market system being the most prevalent [ANS:] mixed
a company that focuses its economic reasoning at a business
level and decisions focus on individuals is what [ANS:]
microeconomics
what is the payment of production for a company if it buys the
additional machinery for its production facility [ANS:] interest
the payment for the use of capital is... [ANS:] interest
which term is a factor of production in a manufacturing facility
[ANS:] machinery-capital factor
Macroeconomics [ANS:] a branch of economics dealing with the
performance, structure, behavior, and decision making of an
economy as a whole
, 2
For Expert help and assignment solutions, +254707240657
Microeconomics [ANS:] a branch of economics that studies the
behavior of individuals and firms in making decisions regarding the
allocation of scare resources and interactions among these
individuals and firms
Scarcity [ANS:] the basic economic problem, the gap between
limited, scare, resources and theoretically limitless wants
3 basic economic questions [ANS:] What to produce? How to
produce? For whom to produce?
© 2025 Assignment Expert
what is a consequence of a government printing more money
[ANS:] decreased unemployment
principle 1 [ANS:] People face trade-offs
Guru01 - Stuvia
principle 2 [ANS:] The cost of something is determined by what
you give up to get it
principle 3 [ANS:] Rational people think at the margin
principle 4 [ANS:] People respond to incentives
principle 5 [ANS:] trade can benefit everyone
principle 6 [ANS:] markets are sound method of organizing
economic activity
principle 7 [ANS:] governments may be able to improve market
outcomes
principle 8 [ANS:] a nation's standard of living depends on its
ability to produce
principle 9 [ANS:] printing to much money causes prices to rise
