Resources
The oranges used to create orange juice are an example of a ___________ resource.
Natural
___________ is the study of production, distribution, and consumption of goods and services.
Economics
The amount of goods and services consumers are willing to buy at a certain price.
Demand
The ability to hear a court case is called ....
Jurisdiction
Criminal or Civil? Patrick Star spilled hot McDonald's coffee on himself at breakfast this morning, and he wants to sue McDonald's. What kind of case would this be?
Which is a human resource?
Lemon, donkey, oven, waitress
The combining of resources to create goods and services is called...
Production
The interaction of supply and demand determines...
Price
You may try to __________ your case to a higher court if you are found guilty.
Appeal
Criminal or Civil? After getting caught with a truck full of stolen chicken nuggets, Kevin is charged with stealing $20,000 worth of products
Criminal
What are the four types of resources?
Entrepreneur, Human, Capital, Natural
Price - Cost to produce the item = __________ Example: If Steve is selling candy bars for $1 and they cost him $.50 to make the $.50 left over is called what?
Profit
The amount of goods and services a producer is willing to sell at a certain price.
Supply
When a court hears a case that has already been decided by a lower court, they are exercising ____________ jurisdiction.
Appellate
Criminal or Civil? Zion performs a hit an run on Yolanda's car.
Criminal
The ice cream machine used to make a Frosty is an example of a __________ resource.
Capital
The factors of production (Human, Natural, Capital & Entrepreneurs) are also known as...
Resources
When consumers keep choosing to buy the same product, they are using...
Consumer Preference
A major crime that is punishable by over a year in state prison is called a(n)...
Felony
Kordell steals $150 worth of hamburgers from McDonald's. Is this as Misdemeanor or Felony?
Misdeameanor/Under $1000
What type of Resource is this? Someone who takes a risk for profit.
Entrepreneur
_______ is when two or more companies produce similar goods but want consumers to choose their product over their rivals.
Competition/Rivalry
When price goes up, what happens to supply and demand?
Supply goes up, demand goes down.
The Waynesboro district court has jurisdiction unless the criminal commits a .
Original, Felony
The damages caused from Zion's hit-and-run total $1500. Misdemeanor or felony?
Felony