Economics Basics: Systems, Concepts, and Institutions
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

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?

  • Increased taxation
  • Increased economic equality
  • Decreased government intervention (correct)
  • Increased government intervention

    • 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?

    <p>One firm dominating the market</p> Signup and view all the answers

    What is the primary role of a crown corporation?

    <p>To provide public goods and services</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser