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Exploring Economic Systems

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Questions and Answers

In your own words, what is production?

The process of consuming goods and services
The process of selling goods and services
The process of distributing goods and services
The process of creating goods and services (correct)

Who is considered 'society' in the definitions of economic systems?

Non-profit organizations
Businesses
Government
Individuals (correct)

In your own words, what is distribution?

The process of consuming goods and services
The process of creating goods and services
The process of buying goods and services
The process of selling goods and services (correct)

In your own words, what is consumption?

The process of buying goods and services (B) Signup and view all the answers

What is the difference between a good and a service?

A good is tangible, while a service is intangible (D) Signup and view all the answers

Ano ang ibig sabihin ng "trade-offs" sa ekonomiks?

Ang pagbibigay ng isang aspeto o halaga para sa isa pang aspeto o halaga (B) Signup and view all the answers

Ano ang ibig sabihin ng "opportunity cost" sa ekonomiks?

Ang halagang ipinapalit ng isang tao para makuha ang isang bagay (D) Signup and view all the answers

Ano ang ibig sabihin ng "rasyonal na tao" sa ekonomiks?

Ang taong nag-iisip ng maayos at gumagawa ng desisyon batay sa layunin (C) Signup and view all the answers

Ano ang ibig sabihin ng "incentives" sa ekonomiks?

Mga pampasigla na nagpapabago sa kilos o desisyon ng mga tao (A) Signup and view all the answers

Ano ang ibig sabihin ng "marginal thinking" sa ekonomiks?

Ang proseso ng pag-aaral at pagsasaalang-alang ng dagdag na benepisyo at gastos ng isang desisyon (B) Signup and view all the answers