Show:
World Capitals
State Capitals
Needs vs. Wants
Economic Process (5-2)
Potpourri
100
The capital of The United States of America is ___________.
What is Washington D.C
100
Give one word that means human resources.
labor
100
Food and water are examples of ____________ needs.
physical
100
A ____________________ is a product.
Good
100
Economics is about ________________.
choice
200
The capital of Columbia is _______________.
What is Bogota?
200
Give one word that means people-made resources.
capital
200
Police and fire departments are examples of ____________ needs.
collective
200
A _________________ is a job being done.
service
200
As the price decreases, demand _____________.
increases * More people can afford it.
300
The capital of Greece is ________________.
What is Athens?
300
Resources found in the environment are called ________________ resources.
land and natural
300
These are unnecessary for life, but wanted for pleasure and comfort. These are ____________ wants.
psychological
300
The money earned by selling goods and services is called _________________.
revenue
300
As price increases, demand ______________.
decreases * people can't afford it
400
The capital of China is _______________.
What is Beijing?
400
Physical and mental effort performed by people is called ______________________.
human resources
400
These needs are necessary for a group, so these are called ________________ needs.
Collective
400
Cost of doing business minus revenue equals ___________.
profit
400
_______________ and _______________ influences the price of goods and services
Supply, demand
500
The capital of Estonia is ______________?
What is Vilnius?
500
A person who combines resources to create goods and services is called an ___________________.
entrepreneur
500
Uggs are an example of a ________ want.
psychological
500
A company concentrating on just a few goods or services.
specialization
500
What are the four basic economic questions?
1) What goods and services are produced? 2) How are goods and services produced? 3) How much/many are produced? 4) Who gets what's produced?