The concept of improving work methods in the home is known as:
a. Satisficing
b. Optimization
c. Work Simplification
d. Re-inventing
C
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A closed economy refers to an economy with
A) no immigration. B) tariffs and import quotas. C) government control of all factors of production. D) no international trade.
If an economy has no money, then all transactions must be conducted through the use of ________
A) credit cards B) barter C) debit cards D) tobacco or wampum
Monetary and price instability will
What will be an ideal response?
Under a system of private property, could a 60-year-old owner of a tree farm benefit by planting and caring for
a. No, the farmer will be dead before the crop will be ready for harvest. b. No, the value of the farmer's land will decline since he is taking it out of production for the next 50 years. c. Yes, the farmer will benefit because this action will increase the value of the land if and when the farmer decides to sell. d. Yes, but only if the project is subsidized by the government or private conservation groups.