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?

    <p>The process of buying goods and services</p> Signup and view all the answers

    What is the difference between a good and a service?

    <p>A good is tangible, while a service is intangible</p> Signup and view all the answers

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

    <p>Ang pagbibigay ng isang aspeto o halaga para sa isa pang aspeto o halaga</p> Signup and view all the answers

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

    <p>Ang halagang ipinapalit ng isang tao para makuha ang isang bagay</p> Signup and view all the answers

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

    <p>Ang taong nag-iisip ng maayos at gumagawa ng desisyon batay sa layunin</p> Signup and view all the answers

    Ano ang ibig sabihin ng "incentives" sa ekonomiks?

    <p>Mga pampasigla na nagpapabago sa kilos o desisyon ng mga tao</p> Signup and view all the answers

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

    <p>Ang proseso ng pag-aaral at pagsasaalang-alang ng dagdag na benepisyo at gastos ng isang desisyon</p> Signup and view all the answers

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