Answered step by step
Verified Expert Solution
Question
1 Approved Answer
fill the blank with the bank of words Sheet1 Sheet2 Sheet3 ECN 1050, Word Bank -- Test #1 1) allocati 33) market 2) barter 34)
fill the blank with the bank of words
Sheet1 Sheet2 Sheet3 ECN 1050, Word Bank -- Test #1 1) allocati 33) market 2) barter 34) marginal 3) beneficial 35) Marx, Karl 4) best 36) material wealth 5) China 37) means 6) choices 38) minimize 7) command 39) model(s) 8) cost(s) 40) money 9) distributive 41) mutual/mutually 10) dollar(s) 42) owner(s) 11) double coincidence 43) price/prices 12) efficient 44) Principles of Macroeconomics 13) equal 45) private property 14) for whom 46) profit(s) 15) freedom 47) quantify 16) Galbraith, John Maynard 48) resources 17) good/service 49) revenue 18) government 50) service/good 19) great/greater/greatest 51) scarce 20) how 52) self/self-interest 21) How a Capitalist System Works 53) share 22) incentive(s) 54) skills, talents, strengths 23) income 55) Smith, Adam 24) individuals 56) Soviet Union/USSR 25) information 57) specialization 26) inefficient(ly) 58) The Wealth of Nations 27) insatiable 59) trade 28) Japan 60) tradition 29) keep 61) transition 30) Keynes, John Maynard 62) unlimited 31) law(s) 63) utility 32) learning by doing 64) whatL,| Question 9 3 pts There are seven basic capitalist institutions that help us understand the reason that a market system is so highly productive. Once the logic of the market is understood, it is clear that the key to the market system's productivity is that it converts A) into socially B} behaviorStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started