#1
Which economic system relies on supply and demand to determine prices and allocation of resources?
1 answered
#2
Who is considered the father of modern economics?
#3
Which economic system is characterized by private ownership of the means of production and minimal government intervention?
#4
Who introduced the concept of 'invisible hand' in economics?
#5
Which economic system is characterized by collective ownership of the means of production and centralized planning?
#6
What economic term describes the total value of all goods and services produced within a country's borders in a specific time period?
#7
Which economic policy advocates for government intervention in the economy to control unemployment and stabilize prices?
#8
What economic term refers to the total amount of money circulating in the economy?
#9
Which economic policy emphasizes reducing government spending and lowering taxes to stimulate economic growth?
#10
What economic term describes the percentage increase in the general price level of goods and services over a period of time?
#11
What is the primary objective of fiscal policy?
#12
What is the primary objective of monetary policy?
#13
Who is credited with developing the theory of comparative advantage in economics?
#14
Who developed the theory of the 'Tragedy of the Commons'?
#15