Show:
TERMS
FUNDAMENTALS
SUPPLY/DEMAND
BANK ON THIS
POTPOURRI
100

basic requirement for survival.

What is a NEED?

100
the basic problem facing all societies- not enough resources to match wants
What is SCARCITY?
100

Products and services available for consumption or use.

What is SUPPLY?

100
Trade of goods or services without coins or bills is called this
What is BARTER?
100

The paper that tells the student about Economics class concepts and its definitions.

What is a SYLLABUS OR GLOSSARY?

200

Means of expressing a need?

What is a WANT?

200
To provide for needs, answer these questions: WHAT to produce, HOW to produce, and _____ ______ to produce?
What is FOR WHOM?
200
The need or desire for a product or service
What is DEMAND?
200

The country national bank.

What is the CENTRAL BANK - BANK OF MEXICO?

200

Tools, equipment or other manufactured goods used to produce other goods or services.

What is CAPITAL RESOURCES?

300

Work performed and offered for someone else

What is a SERVICE?

300

Because a large part of economy is centered around the basic need of food, basic economics studies center around this sector....

What is AGRICULTURE?

300

Generally speaking (but not always), is supply is up and demand is down, price does this

What is DECREASE, or GO DOWN?

300

They tax the people

What is THE CONGRESS-SAT?

300
A person who uses goods or services to satisfy wants or needs
What is a CONSUMER?
400

The efficIent use of productive resources.

What is PRODUCTIVITY?

400

Sector who serve others through this type of industry.

What is SERVICE INDUSTRY?

400
If demand is up and supply is down, generally prices ....
What is RISE or GO UP?
400

They make monetary policy.

What is the CENTRAL BANK?

400
If you buy something expensive to impress others, when a less expensive item would do just fine, you have practiced this type of consumption
What is CONSPICUOUS CONSUMPTION?
500

the sum of skill, abilities, health and motivation of people

What is HUMAN RESOURCES?

500

a risk taker in creating new businesses in search of profits

What is an ENTREPENEUR?

500
If there is only one seller of a particular good or service, with no competitors, then this seller has this
What is a MONOPOLY?
500

They make fiscal policy

What is GOVERNMENT CONGRESS?

500

The branch of the Treasury Department that collects taxes

What is the IRS or the INTERNAL REVENUE SERVICE or in Mexico SAT?