Economics 1
It is a short necessity, something we cannot live without.
Need
It is a desire, a longing, an appetite for something, something we can live without.
Want
Is anything used in the production and distribution of goods and services.
Capital Good
Are those things produced for direct use by consumers.
Consumer goods
It is the usefulness of a good.
Utility
It is the limited availability of a good.
Scarcity
Goods are seen in the same way (utility) for all people.
False
Are the general rules or principles guiding the production, distribution, and consumption of goods.
How many principles of Economics are there?
Ten 10
They believe that saving in precious metals is the best way to increase a country's economy.
Mercantilist
They believe that land and natural resources possess the wealth of a country.
Physiocrats
It means that a nation's economy is best left to itself and should not be stifled by the government.
Laissez-Faire
Gold and Silver
Bullion
Are the taxes applied by the government to imported goods.
Taxes
He is the founder of modern economics.
Adam Smith
It was Adam Smith's first book.
The Theory of Moral Sentiments
Adam Smith was born in...
Great Britain, Scotland, Kirkcaldy.
It is the separation of work into individualized tasks.
Division of Labor
The best example of the Division of Labor is...
The Assembly Line (maquila)
People should work at what they do best.
Specialization
Mention three natural resources of Sula
1, 2, 3
Mention three labor examples of Sula
1, 2,3
Mention three examples of the Capital of BIC
1, 2,3
It is the study of the consumption, distribution, and production of goods made by individuals.
Economics
Give one exmaple of Entrepreneurship in Honduras
1.