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☆☆☆☆☆Cards in this guide (9)
What is the purpose of a free-market system
To allow consumers and producers to make their own decisions
How does the assembly line benefit the economy
helped meet supply and demeand faster It increases productivity
Consumers use cost-benefit analysis in order to maximize what
Consumers use cost-benefit analysis in order to maximize utility.
Economic decisions involve doing what with resources to produce goods and services for people to consume
Allocating
The government sets a price floor in order to protect what
A vulnerable industry
Which of these is most likely to lead to a decrease in the price of a good
Demand decreases and supply remains the same would lead to a decrease in the price of a good.
What is a not a way the fed can generate an increase in the money supply
Cutting taxes
Which of the following promotes greater efficiency and lower prices by protecting competition
antitrust laws -apex :)
The government needs to provide to provide public goods for what reason
private companies can not benefit by providing them
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