Which best explains why goals are necessary for making allocation decisions? Production goals can only be met when enough resources are allocated by the government. The available resources cannot be used to pursue every goal that each individual has.
Which of the following best explains why the games of economics does not have a single goal?
The statement that best explains why the game of economics does not have a single goal is “Different people want different things out of life. It could sound strange, but not everybody wants to be rich and famous.
Which best explains why resources result because people always want more no matter how much is produced?
Which best explains why resources results because people always want more no matter how much is produced? There is scarcity that cannot be eliminated.
Why is the game of Economics about setting goals?
A student who eats her lunch before the lunch period is given another lunch. A parent buys presents for all of the children attending his child’s birthday party. Which of the following best explains why the game of economics is about setting goals as much as it is about making allocation decisions?
How are goods and services meaningful in the game of Economics?
Goods and services are only meaningful once players have decided what goals to use them for. Production goals can only be met when enough resources are allocated by the government. The available resources cannot be used to pursue every goal that each individual has.
Why are there different and incompatible economic goals?
There are different and incompatible economic goals. It’s unnecessary to have a goal to make allocation decisions. Making allocation decisions requires information and resources. Consumers need goals in order to know what goods and services to buy. Which of the following is one way that land contributes to production?
What are the rules of the game of Economics?
PLAY Match Gravity Created by kai_reisig_duffy Terms in this set (25) All are common features to all games except: winners Economics is about allocating resources to produce and distribute which of the following? Goods and services Which is an example of a production decision? An assembly line is used to build cars.
