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: resource Answer: the cost of wages and raw materials for a product Question: outputs Answer: other products that can be with the same resources (pizza or pretzels) Question: Answer: causes an increase in without increasing resources Question: Answer: free money from the government to an certain economic activity Question: Answer: the person who combines resources and them in the market Question: taxes Answer: fee charged by the government that supply and raises the cost Question: Answer: agreed upon price by the producer and the ; where Qs = Qd Question: shortage Answer: Qd > Qs Question: Answer: Qs > Qd Question: Law of Answer: the rule that states more will be offered to sell at prices than at lower prices Question: Supply Answer: The of quantities offered for sale at all possible prices in the market. Question: Supply Answer: when a change in has little impact on Qs Question: SupplyAnswer: supply that is very to the price Question: Law of Diminishing Answer: As more units of a certain variable input are added to a constant amount of other resources total output keeps but only a diminishing rate Question: Answer: the fundamental problem of , satisfying unlimited wants with limited resouces Question: Factors of Answer: land, labor, , entrepreneurs Question: Product Answer: where goods and are exchanged Question: Resource Answer: where land, labor, capital are for rent, wages, and capital Question: Cost Answer: the cost of the next best alternative use of time, money or resources when one is made rather than another Question: goods Answer: Goods used to produce other , causes economic growth |
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:
amaya0521
Popular Finance sets