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Economics Asked by a SnapAndSolve user · about 1 hour ago

(2 points) People who take the risks of organizing productive resources to make goods and services are...

Question 7 (2 points)
People who take the risks of organizing productive resources to make goods and services are called what?
a Incentives
b Adam Smith
c Investors
d Entrepreneurs
Question 8 (6 points)
Match the key term with the best definition
Column A
1. _____ Incentives
2. _____ Choice
3. _____ Self-Interest
4. _____ Invisible Hand
5. _____ Adam Smith
Column B
a. Benefits or costs of an action that influence people's decisions and behavior
b. Stated 'Economics is a science of the study of wealth only'
c. The ability of a consumer or producer to decide which good, service or resource to purchase or provide from a range of possible options
d. A metaphor for the unseen forces that move the free market economy.
e. You seek your own personal gain.

Answer

Question 7: d. Entrepreneurs

Question 8:

  1. Incentives - a. Benefits or costs of an action that influence people's decisions and behavior
  2. Choice - c. The ability of a consumer or producer to decide which good, service or resource to purchase or provide from a range of possible options
  3. Self-Interest - e. You seek your own personal gain.
  4. Invisible Hand - d. A metaphor for the unseen forces that move the free market economy.
  5. Adam Smith - b. Stated 'Economics is a science of the study of wealth only'

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