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ECON 150C1 An Economics Perspective FINAL EXAM Revised The a
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8
November 2024
2024/2025
A+
ECON 150C1 An Economics Perspective FINAL EXAM Revised The a
Allocation - answershow limited resources are gathered to satisfy unlimited human wants/needs
Distribution - answersThe way the total wealth is distributed among people and companies
Prices convey what information about value without having to do any calculations? - answers1. Tells how much you value something by how much you're willing to spend on the product
2. Tells the maximum amount of input needed to make something
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