Money Money Money
But What is the Cost?
That's my businessssss
100
What does the government try to prevent when they add security features to bills?
Counterfeiting
100
What is an opportunity cost for attending school?
Missing out on sleep, working, hobbies, exercise and etc.
100
A person who starts their own business is called a:
Entrepreneur
200
What is the difference between a need and a want?
Need: Something that is necessary to live (food, water, shelter etc.)
Want: Something that is desired, but not necessary to live
200
The choice of the value of the next best alternative that is given up when making a decision.
Opportunity Cost
200
Every person who works in a business to help make it successful is this factor of production.
Labor
300
(Blank) is a term used to describe a situation in which something that is needed is in short supply
Scarcity
300
Why do we economists want us to study not only the opportunity costs of what we pay, but also what our alternative choices could have been?
Answers may vary but something similar to:
They want us to analyze the benefits of our options so that we make the best decisions.
300
An example of capital in the factors of production.
Anything bought to help the business run: machines, cups, stoves etc.
400
Name something that is scarce (other than the chairs in the class lol)
Answers may vary and are up to the discretion of Ms. Hernandez
400
The PPC or PPF stands for... 
What is: Production Possibilities Curve or Production Possibilities Frontier
400
What are the four factors of production?
Land, Labor, Capital, and Entrepreneurship
500
The three economic questions are:
(Blank) to produce?
(Blank) to produce?
(Blank) to produce?
What to produce?
For whom to produce?
How to produce?
500
The point of efficient, which means we are using all of our resources to their fullest potential
The point of Inefficient, which means we are not using all of resources to their full potential.
The point of Impossible, which means there are not enough resources.
D,A,B: Efficient
C: Inefficient
E: Impossible
500
This is called:
Circular Flow Diagram