Study guides, Class notes & Summaries

WGU C718 Pre-Assessment: Microeconomics PJKO | 60 Questions with 100% Correct Answers | Verified | Latest Update Which concept relates to limited resources? - Answer ️️ -Scarcity What does fresh water costing more than gas exemplify? - Answer ️️ -Scarcity (example) Which characteristic is a part of a market economy? a-Hereditary customary roles b-Government-created mandate c-Private property rights d-Past family traditions - Answer ️️ -c-Private property rights A student ha...

WGU C718 Full Study Guide Questions | 104 Questions with 100% Correct Answers | Verified | Latest Update | 25 Pages What is the definition of economics? - Answer ️️ -the study of how humans make decisions in the face of scarcity What are economic and accounting profits? - Answer ️️ -Accounting - profit computed using only explicit costs Total revenue - Explicit costs = accounting profit Economic - profit computed using explicit and implicit costs Total revenue - Explicit costs -...

WGU C718 Pre-Assessment: Microeconomics PJKO | 60 Questions with 100% Correct Answers | Verified | Latest Update Which concept relates to limited resources? - Answer ️️ -Scarcity What does fresh water costing more than gas exemplify? - Answer ️️ -Scarcity (example) Which characteristic is a part of a market economy? a-Hereditary customary roles b-Government-created mandate c-Private property rights d-Past family traditions - Answer ️️ -c-Private property rights A student ha...

WGU C718 Full Study Guide Questions | 104 Questions with 100% Correct Answers | Verified | Latest Update | 25 Pages What is the definition of economics? - Answer ️️ -the study of how humans make decisions in the face of scarcity What are economic and accounting profits? - Answer ️️ -Accounting - profit computed using only explicit costs Total revenue - Explicit costs = accounting profit Economic - profit computed using explicit and implicit costs Total revenue - Explicit costs -...

WGU C718 VOCABULARY 2024 QUESTIONS WITH COMPLETE ANSWERS ALREADY PASSED AND GRADED A+ absolute advantage - CORRECT ANSWER when a country (or person) can produce more of a good than another country (In this picture England has absolute advantage in both goods) accounting profit - CORRECT ANSWER profit computed using only explicit costs (Acct Profit = Total Revenue - Explicit Costs) marginal external costs - CORRECT ANSWER additional costs incurred by third parties outside the produ...

Which is not an example of proper lab safety? A. Washing hands between patients. B. wearing personal protective equipment. C. Reusing gloves. D. Properly disposing of sharps. - ANSWER C. Reusing Gloves All of the following are ways and infection can spread between patients except: A. Airborne B. Isolation C. Droplets D. Direct contact - ANSWER B. Isolation A phlebotomist is required to wear which of the following personal protective equipment when performing a routine venipuncture...

To Economists, Scarcity means - ANSWER unlimited wants cannot be satisfied by the limited resources Joe decides to attend the one-hour review session for microeconomics instead of working at his job. His job pays him $10 per hour. Joe's opportunity cost of attending the review session is - ANSWER the $10 he could have earned at his job. Decision making on the margin involves - ANSWER comparing the marginal cost and marginal benefits when making a decision. Ford has announced that it wi...

WGU C718 Practice Test (Latest Update ) 100% AccurateWGU C718 Practice Test (Latest Update ) 100% AccurateWGU C718 Practice Test (Latest Update ) 100% AccurateWGU C718 Practice Test (Latest Update ) 100% AccurateTo Economists, Scarcity means - ANSWER unlimited wants cannot be satisfied by the limited resources Joe decides to attend the one-hour review session for microeconomics instead of working at his job. His job pays him $10 per hour. Joe's opportunity cost of attending the

WGU C718 Microeconomics (Latest Update )100% Accurate WGU C718 Microeconomics (Latest Update )100% Accurate WGU C718 Microeconomics (Latest Update )100% Accurate WGU C718 Microeconomics (Latest Update )100% Accurate What is economics? - ANSWER The study of how humans make choices under conditions of scarcity. What is meant by scarcity in economics? - ANSWER The wants for goods, resources, and services exceeds what is available.

WGU C718 Full Study Guide Questions & Answers 100% CorrectWGU C718 Full Study Guide Questions & Answers 100% CorrectWGU C718 Full Study Guide Questions & Answers 100% CorrectWGU C718 Full Study Guide Questions & Answers 100% Correct What is the definition of economics? - ANSWER the study of how humans make decisions in the face of scarcity What are economic and accounting profits? - ANSWER Accounting - profit computed using only explicit costs Total revenue - Explicit costs = accounting pr...