Economics 1
_____ is the system by which a society produces, values, and distributes goods and services to the community
What is economics?
What is economists?
_______ has the largest GDP in the world
What is the USA?
The _____ system has been around longer than money
What is the barter system?
This ingredient was used as a currency during the Ancient Mayan empire
What is cacao beans?
_____ is the study of how the economy in a whole country works...
What is macroeconomics?
_____ are the people or companies that make goods and services
What is producers?
______ is the people who purchase or use goods and service
What is consumers?
_____ explains why consumers buy one product instead of the other
What is microeconomics?
The process of creating goods and services is called _____
What is production?
Economics is concerned with needs and wants otherwise known as...
What is supply and demand?
3 factors that are studied in economics are...
What is foreign trade, unemployment rates, and interest rates?
When a low supply of a certain good or service happens it becomes...
What is more valuable?
Name the 5 parts that the economy deals with
What is stocks, taxes, businesses, banks, and employment?
_____ is the total value of all products manufactured and good provided in a certain region during a specific time period.
What is the GDP?