In each blank, try to type in the
word that is missing. If you've
typed in the correct word, the
blank will turn green.
If your not sure what answer should be entered, press the space bar and the next missing letter will be displayed. When you are all done, you should look back over all your answers and review the ones in red. These ones in red are the ones which you needed help on. Question: Condition of not being able to have all the goods and services one wants, because wants exceed what can be made from all resources at any given time.Answer: Scarcity. Question: Land: Natural ResourcesLabor: Child-care workerCapital: Robots that help make easierAnswer: of Production. Question: Value of the next best given up for the alternative that was chosen.Answer: cost. Question: Sacrificing one good or service to purchase or another.Answer: -off. Question: Ch.2:By pursuing his own he frequently promotes that of the society more effectfully than when he really intends to promote it.Answer: Adam 's invisible hand theory. Question: Desire to make that motivates people to produce and sell goods and services.Answer: Profit . Question: What are the basic economic questions?Answer: What should be produced? How should it be ? and For whom should it be produced? Question: Way in which a nation uses its resources to satisfy its 's needs and wants.Answer: System. Question: Traditional, , and Market.Answer: The types of economic . Question: Your parents would perform the same that their parents performs.Answer: Traditional . Question: Cuba & China because government controls everything.Answer: Command . Question: ; where government has little control; America.Answer: Market a.k.a free enterprise . Question: Ch.3: Money income a person has left to spend on extras after necessities have been .Answer: income. Question: Promise made by a manufacturer or a seller to repair or replace a product within a certain time period if its to be faulty.Answer: . Question: Ch.4: Device used to make purchases.Answer: card. Question: Credit device that allows a person to make purchases at many of stores, restaurants, and other businesses without paying cash.Answer: card. Question: Advantages of home are....Answer: of use, Pride of ownership, and greater privacy. Question: of home ownership are....Answer: Less mobility, real estate taxes, and time to move to new place. Question: of renting are....Answer: Greater mobility, feeling of freedom to choose another place to live if dissatisfied with current rental unit, paying only a small security deposit rather than a large down , and no direct maintenance costs, real estate taxes, or depreciation. Question: of renting are....Answer: No freedom of use, No return on rental money, few or no tax benefits, less privacy, little feeling of responsibility for seeing that the property is taken care of, No for use as collateral need to wait for maintenance work at the convenience of t Question: Ch.6: Set aside income for a of time so that it can be used for later.Answer: . Question: IRA: private retirement plan that allows individuals or married to save a certain amount of untaxed earnings per year with the interest being tax-deferred.Answer: Individual Account. Question: What do the Dow-Jones Industrial Average and the Standard & Poor's (S&P) 500 ?Answer: Market with more than 10,000 , those 30 companies have 3 combined market value of over $2.5 million. Question: What purpose do the Individual Accounts (IRA) serve?Answer: A single person earning less than $30,000 can up to $3,000 a year and deduct those contributions from taxable income. Question: What is a over a stock?Answer: can invest in a bond if they have the money for it and promises to pay a state rate of interest over a state period of time, and then to repay the borrowed amount in full at the end of that time. Question: An investment company that pools the money of many individuals to buy stocks, bonds, or other investments and advantage is they hold a variety of stocks and .Answer: funds. Question: Ch.7: Economic rule stating that the demanded and price move in opposite directions. As price goes up, quantity demanded goes up.Answer: The Law of . Question: What causes a change in ?Answer: Changes in Population, changes in income, changes in tastes and Preferences, Substitutes, and Goods. Question: Situation in which a product's price change has little impact on the quantity demanded by .Answer: Inelastic . Question: As price for a good, the quantity supplied generally rises. As the price falls, the quantity supplied also falls.Answer: Law of . Question: What a change in supply?Answer: The quantity supplied and change. Question: The price at which the amount producers are willing to supply is to the amount consumers are willing to buy.Answer: price. Question: If the demand for workers if the (minimum wage) increases then....Answer: it . Question: Ch.8: A chart that a corporate chain of demand.Answer: organizational . |
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