Economics Study guides, Class notes & Summaries

Social Work 260 Exam 1 Questions and Answers- 100% Pass Globalization Definition -Answer-A process of global integration in which diverse peoples, economies, cultures and political processes are increasingly subjected to international influences. Indicates the emergence of an inclusive worldwide culture, a global economy, and a shared awareness of the world as a single place. Healy's dimensions of International Social Work -Answer--International Professional Action -Professional Exchang...

SAFe Agile Product Management (APM) Exam 2024 The PM may fulfill the role of the _____? -Answer-Product owner: defining stories, prioritizing team backlogs, accepting stories, etc. T or F? PM supports all product aspects -Answer-True - Acts as marketing, contact for sales, reviews legal agreements, responses to service requests, manages value steam economics PMs rely on ___ for development facing concerns -Answer-Product Owners Four dimensions of product management stakeholders -Answer-Bu...

TEST BANK FOR Principles of Microeconomics 10th Edition by Gregory Mankiw TABLE OF CONTENTS Chapter 1: Ten Principles of Economics Chapter 2: Thinking Like an Economist Chapter 3: Interdependence and the Gains from Trade Chapter 4: The Market Forces of Supply and Demand Chapter 6: Supply, Demand, and Government Policies Chapter 7: Consumers, Producers, and the Efficiency of Markets Chapter 8: Application: The Costs of Taxation Chapter 9: Application: International Trade Chapter 10: Ex...

TEST BANK for Principles of Microeconomics 10th Edition by Gregory Mankiw TABLE OF CONTENTS Chapter 1: Ten Principles of Economics Chapter 2: Thinking Like an Economist Chapter 3: Interdependence and the Gains from Trade Chapter 4: The Market Forces of Supply and Demand Chapter 6: Supply, Demand, and Government Policies Chapter 7: Consumers, Producers, and the Efficiency of Markets Chapter 8: Application: The Costs of Taxation Chapter 9: Application: International Trade Chapter 10: Ext...

socioeconomic development - ANS>refers to the transformation of society concerning social and economic dimensions gross domestic product - ANS>it is the monetary value of all finished goods and services made within a country during a specific period poverty - ANS>severe deprivation of basic human needs unemployment - ANS>reflects people who are looking for work education - ANS>process of imparting or acquiring general knowledge population - ANS>refers to an entire group ...

what is scarcity - ANS>is an economic problems of humans facing limited resources while also having unlimited needs and wants. amount of resources available relative to peoples wants what is opportunity cost? - ANS>behind each choice there is an alternative choice that can have been made. The value of that second option is what economists call opportunity cost ( if you choose to go to the movies over going to classes, the missed class is the missed classes. ) what are goods? - ANS&g...

Economic resources - ANS>also known as production, are the resources used to produce goods and services. Land, Labor, Capital are the income of resource owner Land - ANS>soil and natural resources that are found in nature and not man made. Owners of land receive a payment known as rent. Labor - ANS>physical and human effort exerted in production. Capital - ANS>man made resources used in the production of goods and services, which include machineries and equipment. Interest - ...

Scarcity - ANS>- is the insufficiency of resources to meet the wants of the consumers and insufficiency of resources for producers that hamper enough production of goods and services. Economics - ANS>- as a study, is the social science that involves the use of scarce resources to satisfy unlimited wants. Scarcity - ANS>- is a condition where there are insufficient resources to satisfy all the needs and wants of a population. - Scarcity may be relative or absolute Relative Scarci...

Applied Economics - ANS>It is the study of economics in relation to real world situations, as opposed to the theory of economics. Application of economic principles and theories, and trying to predict what the outcomes might be. Foreign Exchange - ANS>This refers to the dollar and dollar reserves that the company has. We need this, particularly dollars for international trading and buying raw materials from other countries. First - ANS>This is the __ Application of applied economi...

Economics - ANS>comes from the Greek word oikonomike - "one who manages the household." Mankiw - ANS>Economics is the study of how society manages its resources Hall and Leiberman - ANS>economics is the study of choice under the conditions of scarcity Castillo - ANS>economics as the study of how man could best allocate and utilize the scarce resources of society to satisfy his unlimited want Webster - ANS>economics as a branch of knowledge that deals with the production,...