ECON CHAPTER 1 STUDY GUIDE // A+ GRADED
PRESENTATION // FOUNDATIONAL ECONOMIC PRINCIPLES
SCARCITY CHOICE OPPORTUNITY COST AND MARKET
BASICS FOR STUDENT MASTERY // ACADEMIC YEAR
2025/2026
cuba and north korea - CORRECT ANSWER-In countries like
______________ the command economy predominates.
a) china and vietnam
b) Cuba and North korea
c) South Africa and Kenya
d) Germany and France
Government - CORRECT ANSWER-In a command economy, the
_____________ either makes most economic decisions itself or at least
strongly influences how the decisions are made.
Low Inflation - CORRECT ANSWER-Wen nations desire a healthy macro
economy, they typically focus on three goals, one of these beings:
a decrease in the unemployment rate - CORRECT ANSWER-Which of the
following is most likely a topic of discussion in macroeconomics?
a) an increase in the price of a hamburger
b) a decrease in the production of DVD players by consumer electronics
company
c) an increase in the wage rate paid to automobile workers
d) a decrease in the unemployment rate.
PRESENTATION // FOUNDATIONAL ECONOMIC PRINCIPLES
SCARCITY CHOICE OPPORTUNITY COST AND MARKET
BASICS FOR STUDENT MASTERY // ACADEMIC YEAR
2025/2026
cuba and north korea - CORRECT ANSWER-In countries like
______________ the command economy predominates.
a) china and vietnam
b) Cuba and North korea
c) South Africa and Kenya
d) Germany and France
Government - CORRECT ANSWER-In a command economy, the
_____________ either makes most economic decisions itself or at least
strongly influences how the decisions are made.
Low Inflation - CORRECT ANSWER-Wen nations desire a healthy macro
economy, they typically focus on three goals, one of these beings:
a decrease in the unemployment rate - CORRECT ANSWER-Which of the
following is most likely a topic of discussion in macroeconomics?
a) an increase in the price of a hamburger
b) a decrease in the production of DVD players by consumer electronics
company
c) an increase in the wage rate paid to automobile workers
d) a decrease in the unemployment rate.
