Coach Sutton
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| Worth that can be expressed in dollars and cents. | Value
🗑
|
||||
| Study of how people try to satisfy their needs through the careful use of scarce resources. | Economics
🗑
|
||||
| Tools, equiptment, machinery, and factories used in the production of goods and services. | Capital
🗑
|
||||
| Condition of of not having enought resouces to produce all the things that people want. | Scarcity
🗑
|
||||
| Cost of the next-best alternative use of money, time, or resources when one choice is made rather than another. | Opportunity Cost
🗑
|
||||
| Sum of those ecnomoic products that are tangible, scarece, useful, adn transferable. | Wealth
🗑
|
||||
| People with all there abilities, efforts, and skills. | Labor
🗑
|
||||
| Alternative choices made by consumers in the marketplace. | Trade-offs
🗑
|
||||
| Quality of life based on the ownership of the necessities and luxuries that make life easier. | Standard of Living
🗑
|
||||
| Tangible item that is economically useful or that satisfies an economic want. | Good
🗑
|
||||
| The situation in which some necessities have little value while some non-necessities have a much higher vaule known as... | Paradox of Value
🗑
|
||||
| Manufactured goods needed to produce other goods and services are called... | Capital Goods
🗑
|
||||
| To arive at an economic decision, a desicion-making grid may be used to evaluate... | Alternative Choices of Action
🗑
|
||||
| Divison of labor is a characteristic of... | Assembly Line Production
🗑
|
||||
| The study of economics is important because it enables us to... | Increase Our Consumption Of Consumer Goods.
🗑
|
||||
| Manifactured good that is used to produce other goods and services. | Captial Good
🗑
|
||||
| Process of using up goods and services to satisfy wants and needs. | Consumption
🗑
|
||||
| Basic requriment for survival. | Need
🗑
|
||||
| Something we would like to have but is not nesscary for survival. | Want
🗑
|
||||
| Work that is performed for someone. | Service
🗑
|
||||
| Diagram representing various combinations of goods and/or services that an economy can produce when all production resources are fully employed. | Production Possibilties Frontier
🗑
|
||||
| A measure of the amount of goods and services produced with a given amount of resources in a specific period of time. | Productivity
🗑
|
||||
| Where factors of production are bought and sold. | Factor Market
🗑
|
||||
| Any good that lasts three years or more when used regularly. | Durable Good
🗑
|
||||
| Economy in which consumers and privately owned businesses make then majority of the WHAT, HOW, and FOR WHOM decisions. | Free Enterprise
🗑
|
||||
| The dollar value of all final goods, services, and structures produced within a country's boarders in a single year is... | It's Gross Domestic Product (GDP)
🗑
|
||||
| A popular model used to illustrate the concept of opportunity cost is... | The Production Possibilities Forontier
🗑
|
||||
| An economic at its production possibilities frontier is operating... | At Full Postential
🗑
|
||||
| Entrepreneurs are considered the driving force in an economy because they... | Start New Businesses
🗑
|
||||
| Actions in one part of the country or world that have an economic impact on what happens elsewhere are examples of... | Economic Interdepence
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
horserider101
Popular Miscellaneous sets