Mixed economy Study guides, Study notes & Summaries
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OP ECO 2 (WITH COMPLETE SOLUTIONS) PT 1 2023.
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1.The best Example of capital intensive industry in India is- (A) Textile industry (B) Steel industry (C) Tourism industry (D) Spare goods industry correct answers (B) [S.S.C (10+2) 2011] Exp: Capital intesive industry are those industries which need large amount of investment in capital i.e. large investment in machinery and infrastructure. In the above industries, steel industry is best example of capital intensive industry in India. 
 
2.The Removal of prohibitions and hindrance by government...
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Intro to business Final exam| 1576 Questions | With Complete Solutions
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Business correct answer: Any activity that seeks to make a profit by providing goods and services to others 
 
Consumer correct answer: A person who purchases the products/services 
 
Resource correct answer: Anything we can use to obtain or make what we need 
 
Public wants correct answer: Wants shared widely by others (water/education) 
 
private wants correct answer: Shared wants 
 
goods correct answer: Satisfy wants and needs for materials you can see or touch 
 
profit correct answer...
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Social Studies 7-12 PACT fully solved 2023/2024
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Social Studies 7-12 PACTFree Trade - correct answer the ability for one country to trade with another without hindrance so that all goods can be produced with the greatest efficiency 
 
Sole Proprietorships - correct answer a business where a single person acts as the owner and operator of the business with no distinction between the person and the business 
 
Comparative Advantage - correct answer the ability to produce a good at a lower opportunity cost than another producer 
 
Market - correc...
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Economics IGCSE (Micro and Macro).
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Economics IGCSE (Micro and Macro) 
 
 
 
 
 
 
 
 
 
 
the basic economic problem - Needs and wants are unlimited, but resources are scarce 
 
scarcity - when there is not enough of something 
 
resources - something that can be used to fulfill a need 
 
economic goods - Goods that are scarce and therefore have an opportunity cost. 
 
free goods - Goods that are not scarce, and are therefore available without limit. 
 
public sector - the part of the economy that involves the transact...
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Chapter 2 The Modern Mixed Economy
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Chapter 2 The Modern Mixed Economy1. In a market system, the what decision is made most basically by A) representative government. B) national planning. C) bankers. D) advertisers and their ability to persuade buyers. E) spending decisions of those with money. Answer: E Difficulty: Easy Topic: Simple Application Bloom’s: Comprehension AACSB: Reflective Thinking 2. "Distribution" in economics refers to: A) retailing, wholesaling, and transportation. B) what. C) how. D) for whom. E) none of th...
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Connect question for MIE 201 Exam 1 2023/2024 already passed
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Connect question for MIE 201 Exam 1A description of how a particular society distributes its resources to produce goods and services is the definition of - correct answer an economic system 
 
When economies are made up of elements from more than one economic system it is referred to as a ___ economy - correct answer mixed 
 
In a free enterprise system, a business succeeds or fails based on - correct answer market demand 
 
For free enterprise to work, there are a number if basic individual and...
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WGU - D089 - Principles of Economics Test Questions and Answers 2023 Graded A100% Verified
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Macroeconomics - A branch of economics dealing with the performance, structure, behavior, and decision-making of an economy as a whole 
 
Microeconomics - A branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources and the interactions among these individuals and firms 
 
Scarcity - The basic economic problem; the gap between limited, scarce , resources and theoretically limitless wants 
 
Opportunity cost - The next b...
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D089 Principles of Economics 2021 Study Guide Questions and Answers
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1.	What are the three fundamental questions every economy must answer? Give an example of a 
“What” question. 
 What to produce, how it will be produced, and for whom the goods or services are produced. What to produce example: What to produce to feed farm animals? 
 
2.	What do economists mean when they say that people “think at the margin”? 
 People will think about what the next step or additional action means for them. (Principle 3) 
 
3.	According to the 10 Principles of Economics...
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Connect question for MIE 201 Exam 1 questions well answered 2023/2024
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Connect question for MIE 201 Exam 1 
A description of how a particular society distributes its resources to produce goods and services is the definition of - correct answer an economic system 
 
When economies are made up of elements from more than one economic system it is referred to as a ___ economy - correct answer mixed 
 
In a free enterprise system, a business succeeds or fails based on - correct answer market demand 
 
For free enterprise to work, there are a number if basic individual a...
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ECON test answers 100% correct 2023-24
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ECON test answers 100% correct 2023-24 
 
 
An economy that contains both perfect and imperfect competition and both regulated and nonregulated industries is known as - ANSWER-mixed economy 
 
An economys production possibilities curve could shift outward as a result of an - ANSWER-increased level of technology 
 
which one of the following is a charecteristic of capitalism but not of communism? - ANSWER-private property 
 
Full employment describes the condition in which - ANSWER-95 to 96 perce...
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