FHCE 3100 - Final Exam | 145 Questions| With Complete Solutions
economics (defined by goldsmith) correct answer: the study or science of production, distribution, and consumption economics (defined by miller) correct answer: the study of how society manages its scarce resources scarcity correct answer: means that society has limited resource therefore cannot produce all the goods and services people wish to have what three main topics do economists study? correct answer: 1.) how people make decisions 2.) how people interact with each other 3.) the forces and trends that affect the economy as a whole Daniel Gilbert had what to say in his book "stumbling on happiness" correct answer: money does not make a person happy but what a person does with the money is what makes them happy consumers - definition correct answer: individuals and groups who obtain, use, maintain, and dispose of goods and service to fulfill needs and increase satisfaction goods - definition correct answer: tangible objects services - definition correct answer: intangible actions of work done
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fhce 3100 final exam | 145 questions| with compl
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