Show:
Factors of Production
Goods and Services
Entrepreneurs
Economic Problems
Basic Questions
100
"gifts of nature"
What is land
100
Food, clothing, energy drinks
What is goods
100
Founded Under Armour
Who is Kevin Plank
100
food, clothing, and shelter
What is a need
100
A society cannot have everything its people want, so it must make decisions
What is "What to produce"
200
tools, equipments, and factories
What is capital goods
200
Hair cuts, home repairs, concerts
What is services
200
Invented Apple I computer
Who is Steve Jobs
200
Social science dealing with how people satisfty unlimited wants with scarce resources
What is Economics
200
Lower cost make manufactured items less expensive and, therefore, available to more people.
What is "How to Produce"
300
people with al their efforts, abilities, and skills
What is labor
300
A good that last for at least 3 years
What is durable good
300
Invented Facebook
Who is Mark Zuckerberg
300
Something you would like to have but is not necessary for survival
What is a want
300
If there is not enough houses for everyone society has to make a choice about who will receive the existing supply.
What is "For Whom to produce"
400
Risk taking individuals
What is entrepreneur
400
A good that wears out or last for fewer that three years when used regularly.
What is a non durable good
400
business magnate, investor, socialite, author, television personality,
Who is Donald Trump
400
Fundamental economic problem of meeting people's virtually unlimited ants with scarce resources.
What is scarcity
400
Dollar value of all final goods, services, and structures produced within a coutry's borders during a one-year period.
What is gross domestic product or GDP
500
Productive resources that make up the four categories of land, capital, labor, and entrepreneurs
What is factors of production
500
A good intended for final use by consumers rather than businesses
What is a consumer good
500
Worked for Sony and invented the playstation
Who is Ken Kutaragi
500
Because resources are limited,everything we do has a cost. So there isn't any such thing as...
What is there isn't such thing as a free lunch
500
This country has the second highest GDP in the world
What is China