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Questions and Answers
What is the primary reason for scarcity in economics?
What is the primary reason for scarcity in economics?
- Lack of technology
- Limited resources (correct)
- Inefficient production
- Unlimited wants
What characterizes an economy that is shifting to the right?
What characterizes an economy that is shifting to the right?
- Increased taxation
- Increased economic equality
- Decreased government intervention (correct)
- Increased government intervention
What is the primary purpose of a stimulus in economics?
What is the primary purpose of a stimulus in economics?
- To reduce inequality
- To increase economic growth (correct)
- To decrease taxation
- To reduce government spending
What is a characteristic of a monopoly in a capitalist economy?
What is a characteristic of a monopoly in a capitalist economy?
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What is the primary role of a crown corporation?
What is the primary role of a crown corporation?
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