Economics 1
Economics 2
Economics 3
Economics 4
Economics 5
100
Making the public aware of a product or service.
What is an advertisement?
100
A person who buys goods and services.
What is a consumer?
100
Agreeing to pay later.
What is credit?
100
Desires satisfied by consuming goods and services.
What are wants?
100
Goods sold in a store
What is merchandise?
200
Currency or money.
What is capital?
200
The opportunity that a person selects over all others.
What is choice?
200
A product sent out of the country for trade.
What is an export?
200
A product brought into the country for trade.
What is an import?
200
Requirements that can be satisfied by consuming goods and services.
What are needs?
300
A person who makes or provides goods and services.
What is a producer?
300
Things that satisfy wants and needs.
What are goods?
300
What you give up when making a choice.
What is opportunity cost?
300
The money left over after a product is bought, sold, and the bills are paid.
What is profit?
300
The process of making a good or service.
What is production?
400
Not enough to go around.
What is scarcity?
400
Activities that satisfy wants and needs.
What are services?
400
How of a product is available and how much of it is needed.
What is supply and demand?
400
The audience for which a product has been designed.
What is a target consumer?
400
Gifts from nature used in the production process.
What are natural resources?
500
The equipment, machines, and buildings used for producing goods and services.
What are capital(equipment) resources?
500
A person or group that starts a new business.
What is an entrepreneur?
500
A system based on buying and selling goods and services.
What is a market economy?
500
The effort put forth by people in the production process.
What are human (capital) resources?
500
The study of how resources are used to satisfy wants and needs.
What is economics?
M
e
n
u