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An assembly line can increase a factory’s productivity because it allows workers to
product market
focus on a specific task
what to produce
the scarcity of factors of production relative to the unlimited wants of humans.
resolving market failures.
governmental regulation
Consumers are protected from sharp price increases by a monopoly
economic growth.
The fundamental problem of economics is:
product market
focus on a specific task
what to produce
the scarcity of factors of production relative to the unlimited wants of humans.
resolving market failures.
governmental regulation
Consumers are protected from sharp price increases by a monopoly
economic growth.
With which term is a command economic system MOST closely associated?
product market
focus on a specific task
what to produce
the scarcity of factors of production relative to the unlimited wants of humans.
resolving market failures.
governmental regulation
Consumers are protected from sharp price increases by a monopoly
economic growth.
When the U.S. government purchases a submarine from a company, the government has made a major transaction in the
product market
focus on a specific task
what to produce
the scarcity of factors of production relative to the unlimited wants of humans.
resolving market failures.
governmental regulation
Consumers are protected from sharp price increases by a monopoly
economic growth.
When governments tax polluting companies and subsidize college education, they are serving the role of
product market
focus on a specific task
what to produce
the scarcity of factors of production relative to the unlimited wants of humans.
resolving market failures.
governmental regulation
Consumers are protected from sharp price increases by a monopoly
economic growth.
A headline reads: Consumers demand new cell phones with greater functionality. What basic economic question is being addressed in this headline?
product market
focus on a specific task
what to produce
the scarcity of factors of production relative to the unlimited wants of humans.
resolving market failures.
governmental regulation
Consumers are protected from sharp price increases by a monopoly
economic growth.
In Georgia, the Public Service Commission regulates the rates charged to customers by GA Power to ensure:
product market
focus on a specific task
what to produce
the scarcity of factors of production relative to the unlimited wants of humans.
resolving market failures.
governmental regulation
Consumers are protected from sharp price increases by a monopoly
economic growth.
When a country’s businesses invest heavily in new capital goods and new technology, which of the following is most likely to occur?
product market
focus on a specific task
what to produce
the scarcity of factors of production relative to the unlimited wants of humans.
resolving market failures.
governmental regulation
Consumers are protected from sharp price increases by a monopoly
economic growth.
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