Abeka Economics Final Exam Questions and Answers 100% Solved

Abeka Economics Final Exam Questions and Answers 100% Solved scarcity Besides its utility, what else determines the value of a good by a consumer? property rights What is basic component of capitalism besides limited government, freedom of enterprise, and competition? equilibrium When supply of good increases, what tends to decrease? traditional Which economic system bases production of goods on customs and habits? command Which economic system is regulated by the public sector? free enterprise Which economic system is guided by the choices made by the private sector? Sherman Act What was one of the first antitrust laws enacted in the United States? total cost What is the sum cost of all the factors of production used in making goods? standardized parts Besides division of labor and automatic conveyance, what composes the "American system" of mass production? transaction account A checking account is what type of account? CD What type of account guarantees a certain interest rate and has a specified maturity date?