Top Economics Exam Flashcards

Welcome to our economics exam flashcards! Economics is a study that deals with wealth, consumption and production. Economics is a very important tool for understanding the different ways that money affects and also alters society. The study of economics can be very confusing and difficult to understand. In order to help you better on economics exams, we have compiled important questions and answers and made them into 3 different sets of flashcards. We break down difficult ideas into simple terms.

In our first set of flashcards, we ask questions like “The investment demand curve (demand for loanable funds curve) shows the what? In our second set, we ask questions like “Fundamental economic problem facing all society, combination of scarce resources & people’s unlimited wants?” In the last set, we ask “investment spending (for an economist and for the GDP accounts) refers to?” Good luck and check these out for more information!
Choose The Correct Option For The Following GDP Theory Flashcards
Cards: 30| Attempts: 17| Last updated: Mar 31, 2021
   The United Nation's Human Development R...
  C Other Factors Like Life Expectancy And Educ...
   All Of The Following Are Included In Gross ...
  A Bussiness's Purchase Of Another Company...
   Real GDP Measures The A) Value Of Total P...
  A Value Of Total Production Linked To Prices ...
   Person A Now That The Kids Are In School Fo...
  C) A, B And C
Econ Exam 3 Study Guide
Cards: 35| Attempts: 14| Last updated: Sep 17, 2015
  The Latest Unemployment Rate For The US:
  8-9%
  Assume That I=Sprivate + Sgovernment + (IM-X)...
  Private Saving Plus Government Saving Would B...
  Government Runs A Budget Deficit... What Happ...
  - The Government Becomes A Borrower In The Ma...
  A Firm Is Deciding Whether Or Not To Invest I...
  Internal Rate Of Return Exceeds The Interest ...
Can You Answer These Economics Of Firms Flashcards
Cards: 130| Attempts: 13| Last updated: Mar 31, 2021
  Whne Firms In A Price Taker Market Are Tempor...
  Additional Firms Will Be Attracted Into The M...
  Suppose A Restraurant That Is Highly Profitab...
  Continue To Operate During Hte Winter Months ...
  The Main Difference Between A Firm That Is A ...
  Price Searcher Will Still Be Able To Sell Som...
  In A Competitive Price-taker Market
  Many Other Sellers Are Offering A Product Tha...

Economics Exam Review Chapter 1:
Cards: 17| Attempts: 12| Last updated: Sep 17, 2015
  Fundamental Economic Problem Facing All Socie...
  Scarcity
  Study Of How People Satisfy Seemingly Unlimit...
  Economics
  ·       &...
  3 Economic Questions
    ·      ...
        4 Factors Of P...
Econ Exam 3 Homework Questions
Cards: 10| Attempts: 8| Last updated: Sep 17, 2015
  Investment Spending (for An Economist And For...
  Adding Physical Capital
  National Savings In A Closed Economy Is:
  - The Sum Of Private Savings Plus The Governm...
  The Government Saves When
  Tax Revenue Is Larger Than Government Transfe...
  A Business Will Want To Borrow To Undertake A...
  Greater Than The Interest Rate
Economics Exam Review CHapter 2
Cards: 13| Attempts: 4| Last updated: Sep 17, 2015
  1.      Economic Sys...
  Traditional Econ.
  1.      Economic Sys...
  Comman Economy
  1.      People Make ...
  Market Economy
  Economic System Where Private Citizens Own Th...
  Capitalism
Econ Of Sports Exam 1
Cards: 16| Attempts: 3| Last updated: Sep 23, 2015
  Sports Economics 
  The Economic Analysis Of Competitive Sports, ...
  Game Theory
  An Individual Or Team Is Engaged In A Strateg...
  Game
  A Competition Between Players
  Payoff
  The Player's Valuations Of The Outcome Of...
Economics Exam Cards
Cards: 74| Attempts: 1| Last updated: Sep 17, 2015
  Manufactured Goods Needed To Produce Other Go...
  Capital Goods
  The Dollar Value Of All Final Goods and ...
  Gross Domestic Product (GDP)
  An Ecomomic At It's Production Possibilities ...
  At It's Full Potential
  For Something To Have Value It Must ..?
  Have Utitlity
Econ 102 Exam 3
Cards: 30| Attempts: 1| Last updated: Sep 22, 2015
   The Table Above Shows The Exchange Rates Be...
  C Depreciated; Depreciated
   The Demand Curve For U.S. Dollars Slopes Do...
  A Appreciates; More
   The Higher The Exchange Rate Today, The A...
  D Smaller Is The Expected Profit From Buying ...
   The ________ The Exchange Rate, The _______...
  D Higher And Cheaper
ECON 103 - Exam 1
Cards: 7| Attempts: 1| Last updated: Sep 22, 2015
  Consumer Equilibrium
  Situation In Which You Allocate All Of Your ...
  Economic Growth
  (1) The Expansion Of Production Possibilities...
  Total Revenue Test
  (1) Method Of Estimating The Price Elasticity...
  Complement
  A Good That Is Used In Conjunction With Anoth...
Economics Exam Review CHapter 3
Cards: 13| Attempts: 1| Last updated: Sep 17, 2015
  Sole Proprietorship
  1.      A Business O...
  Partnership
  1.      A Business T...
  Corporation
  1.      Form Of Busi...
  A Combination Of Two Or More Businesses To Fo...
  Merger
Exam 3 Econ
Cards: 40| Attempts: 0| Last updated: Jul 19, 2016
  The Amount A Firm Receives For The Sale Of It...
  Total Revenue
  The Market Value Of The Inputs A Firm Uses In...
  Total Cost
  Total Revenue Minus Total Cost
  Profit
  Input Costs That Require An Outlay Of Money B...
  Explicit Costs
Econ Exam #2
Cards: 43| Attempts: 0| Last updated: Jul 19, 2016
  Welfare Economics Is The Study Of The Welfare...
  False, Study Of Well Being
  The Equilibrium Of Supply And Demand In A Mar...
  True
  The Willingness To Pay Is The Maximum Amount ...
  True
  Consumer Surplus Is The Amount A Buyer Actual...
  False, Switch After The And Before Minus To T...
Econ 202 Exam 3
Cards: 37| Attempts: 0| Last updated: Sep 18, 2015
  Production Function
  The Relationship Between Inputs A Firm Uses A...
  Technology
  The Processes A Firm Uses To Produce Output
  Techonological Change
  A Change In The Ability Of The Firm To Produc...
  Short Run
  The Time Frame In Which At Least One Variable...
Econ Exam 3 Chapter 12
Cards: 28| Attempts: 0| Last updated: Sep 18, 2015
  Are Most Monopolistic Competitive Firms Able ...
  No
  Monopolistic Competition
  A Market Structure In Which Barriers To Entry...
  Average Revenue=
  TR / Q
  Average Revenue Is Always Equal To 
  Price
Economics Mid-Semester Exam Review
Cards: 103| Attempts: 0| Last updated: Sep 18, 2015
  What Is The Economic Problem?
   All Decision-makers Have Infinite Wants ...
  What Is The Invisible Hand?
   EnsEnsures That Even Thought People Pursu...
   What Do Functioning Markets Require?
  Competition – Many Sellers And Buyers
  What Is The Study Of Homo-economicus?
   How We Think People Behave (people NEED ...
Economics Exam1
Cards: 5| Attempts: 0| Last updated: Sep 22, 2015
  T/F- A Market Place Is Any Place, Institution...
  True
  Theoretically, As The Unemployment Rate Decre...
  Increase
  Market Imperfections Include....? (list 3 Thi...
  1) Barriers To Entry AND Exit 2) Information...
  The Extra Cost Of An Extra Unit Of Production...
  Marginal Cost


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