Producing
Easy Economics
Wants and Needs
Spending Money
Take a Chance
100
What is an example of what to produce?
What is printing new textbooks.
100
What to produce, how to produce, and for whom to produce.
What is Economic Choices
100
Way most goods and services are distributed in the United States.
What is Price System
100
Cost of the next best use of your time or money when you choose to do one thing rather than another.
What is Opportunity Cost
100
Pollution-free air means less driving.
What is Trade-off.
200
What represents marginal cost?
What is the cost of producing one additional unit.
200
Branch of economics that deals with the economy as a whole.
What is Macroeconomics.
200
Things that people would like to have.
What is wants.
200
Costs that are the same no matter how many units of a good are produced.
What is fixed costs.
200
The number of units sold multiplied by the average price per unit.
What is Total Revenue.
300
What happens when one particular item is produced?
What is less of something else will be produced.
300
Economic system in the United States.
What is capitalism.
300
What is an example of a need?
What is fruit.
300
Choosing to buy a DVD player instead of something else is an example of...
What is a trade-off.
300
People who provide labor, knowledge, and skills.
What is human resources.
400
When does a society determine how the goods and services will be distributed among its members?
What is after goods and services are produced.
400
What is economics?
What is the study of how people make decisions with limited resources.
400
Things required for survival.
What is needs.
400
According to economic decision making, we should accept an option when...
What is the benefits outweigh the costs.
400
What is an example of a resource?
What is wood.
500
What are the three economic choices?
What is what to produce, how to produce, and for whom to produce.
500
What is an example of microeconomics?
What is economics of an individual.
500
What are wants?
What is things we would like to have.
500
If the total cost of producing jeans is $5,000, and a company produces 1,000 pairs of jeans, the average total cost is...
What is $5.00
500
What forces people to make economic choices?
What is scarcity of resources.
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