what to produce, how to produce, and what goods and wants will be satisfied with the goods and services produced
What are the three economic questions
100
a person who buys and uses goods and services
What is a Consumer
100
What to produce?
Brandon’s Towing Company added flat tire replacement services. Which economic question does this address?
200
Economic Resources and the means through which goods and services are produced
What is Factors of Production
200
What you make when you give something for something else
What is a Tradeoff
200
a Nation's plan for answering the three economic questions
What is Ecomomic systems
200
The quantity of a good or service that a consumers are willing and able to buy
What is Demand
200
Producers establish supply
Bryers Ice Cream Company plans to increase the quantity of ice cream sold per quarter. This is an example of
which self-regulating principle of a market economy?
300
Something that adds comfort and pleasure to your way of life
What is Wants
300
The process is used to choosing which needs and which wants to satisfied
What is the Economic desision-making process
300
the private ownership of resources by individuals instead of the government
What is Capitalism
300
the point where supply and demand are equal
What is Market price
300
local company choosing to produce gaming software.
An example of a value for a market economy is a:
400
Human Resources, Natural Resources, and Capital Recources
What is Economic Resources
400
The second step in the desicion-making process
What is Identify the choices
400
Private property, Freedom of choice, Profit, and Competition
What are the four principles the U.S. economic system is based on
400
The quantity of a good or servicethat businesses are willing and able to produce
What is Supply
400
Walmart sends only five touch screen computers to each store.
Which is an example of a company establishing supply?
500
Buildings, tools, and revenue
What is Capital Resources
500
Acting on Your Choice
What is the 5th step in the decision-making process
500
Goods and services are produced the way they have always been
What is Traditional economy
500
An illustration of the demand and the supply
What is Demand and Supply curves
500
Consumers bought less of the old version of a video game once the new one was released
Which is an example of consumers setting the demand?