Introduction to Economics Answers

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Which of these statements accurately describe economics? Check all that apply.Economics is the study of how goods and services are made and sold.The principle of scarcity is a driving force of economic decisions.Services are things like groceries, cars, and office buildings.Government regulations rarely influence economic decisions.Producers and consumers interact to influence the economy.

A
Economics is the study of how goods and services are made and sold.
B
The principle of scarcity is a driving force of economic decisions.
C
Services are things like groceries, cars, and office buildings.
D
Government regulations rarely influence economic decisions.
E
Producers and consumers interact to influence the economy.
2
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According to the quote, why does this economist think students should study economics?

A
to learn how to make good economic decisions
B
to limit future possibilities
C
to learn how to become US politicians
D
to become equipped to understand their dreams
3

What best describes the concept of future value?

A
the amount of money required in the future
B
the original amount of an investment
C
the worth of an investment over time
D
the total cost of an item you plan to purchase in the future

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