Key Terms
Prod. Poss. Curve
Three Economic Questions
Mixed Topics
Scategory
100
Production possibilty curve
What is the graph that shows alternative ways to use resources?
100
Production possibility frontier
What is the line that shows the maximum possible outcome?
100
Economic System
What is the method used by a society to produce and distribute goods and services?
100
Amish, Jewish Orthodox
What is the examples used to describe a community that follows a traditionally based economy?
100
country music
What is Mrs. Macri's favorite music?
200
Cost
What is the alternative given up because of a decision?
200
Efficiency
What is using resources to maximize the output of goods and services?
200
Innovation
What is a way a nation's economy improves its standard of living?
200
Centrally Planned
What is an economic system which government makes all decisions on production and consumption of goods and services?
200
Siberian Huskie
What is the type of dog Ms. G has?
300
Factor payments
What is the income people receive for supplying factors of production?
300
Underutilization
What is using fewer resources than an ecomony is capable of using?
300
More jobs; saves time and money
What is a benefit for using hand tools and a benefit for mechanical equipment?
300
FEMA and RED CROSS
What is used as a safety net to help in natural disasters?
300
5 and 1
What is the number of girls and boy Mrs. Macri has?
400
Safety neys
What is a system to protect people experiencing unfavorable economic conditions?
400
Any two categories of goods
What is compared on a production possibility curve?
400
Traditional, Market, Centrally Planned, Mixed
What are the four main kinds of economies?
400
Individuals, Society, Nation
What is who consumes goods and services?
400
The end all and be all of this classroom.
Mactatorship
500
Law of increasing costs
What is shifting factors of production from making one good or service to another, the cost of producing the second item increases?
500
WWII (more employment) and the Great Depression (no employment)
What is the examples used to illustrate underutilization?
500
What goods and services should be produced? How should these goods and services be produced? Who consumes these goods and services?
What are the three economic questions?
500
Scarcity, Law of increasing opportunity costs, Efficiency, Economic growth
What is the four components of a Production Possibility Curve?
500
"Dream Big"
What is your Senior Theme?
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