Show:
The Basics
You Can Do It!
What's in a Name?
You Know It!
See it and Hear it!
100
The number of sections our Economics course is divided into.
What is five?
100
On pre-test question 6 there were four economic system listed?
What are command, market, mixed, and traditional?
100
This is another word for the distribution of resources.
What is allocation?
100
The basic economic problem shared by all nations.
What is scarcity?
100
A person who starts a new online business and manages all of the resources.
What is an Entrepreneur?
200
Two sections of Economics that start with M.
What are Microeconomics and Macroeconomics?
200
When a decision results in the marginal benefits exceeding the marginal costs, (what term describes that decision?
What is a rational economic decision?
200
Most resources are limited or _______.
What is scarce?
200
How economic questions are answered in a command economy.
What is by the government?
200
The four productive resources.
What are land, labor, capital, and entrepreneurship.
300
The three sections of economics that DO NOT begin with M.
What are Fundamental Concepts, Personal Finance, and International Economics?
300
Jordans, video games, and comics are all examples.
What are wants?
300
All things people can use to make goods or products.
What are resources?
300
More freedom and more efficiency are two advantages of this type of economy.
What is a Market Economy?
300
The strategy of allocation based on who can afford the resources.
What are prices or auctions?
400
Two types of capital.
What are human and physical?
400
A point that is BELOW the Production Possibility Curve.
What is inefficient?
400
The study of how and why people make choices about allocating resources.
What is economics?
400
Free job related education for employees is an example of investment in?
What is Human capital ?
400
The strategy of allocation based on a lottery.
What is Random Selection?
500
Every time we make a decision about how we use resources we must make a _________.
What is a trade-off?
500
This term define all the tools, machines, and equipment a business needs.
What is physical capital?
500
Human-made resources used to make products or deliver services.
What is capital?
500
The enjoyment missed by not buying a video game.
What is opportunity cost?
500
The strategy of allocation that gives resources to the best, smartest, strongest, fastest, etc.
What is contest?