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ECONOMICS

QuestionAnswer
WHAT ARE ECONOMICS? ECONOMICS IS THE STUDY OF HOW PEOPLE USE RESOURCES TO SURVIVE AND TO SATISFY THEIR NEEDS AND WANTS
HOW MANY BASIC ECONOMIC QUESTIONS MUST BE ANSWERED BY A SOCIETY? 3
WHAT IS THE 1ST ECONOMIC QUESTION? WHAT GOODS AND SERVICES SHOULD BE PRODUCE
WHAT IS THE 2ND ECONOMIC QUESTION? HOW TO PRODUCE THE GOODS AND SERVICES
WHAT IS THE 3RD ECONOMIC QUESTION? WHO GETS THE GOODS AND SERVICES PRODUCED
WHAT WERE THE REASONS FOR SLAVERY? ECONOMIC AND POLITICAL
WHAT ARE THE FOUR FACTORS OF PRODUCTION? NATURAL RESOURCES, LABOR, CAPITAL, ENTREPRENEURSHIP
WHO WERE THE FIRST SLAVES BROUGHT TO AMERICA? WHITES
WHAT IS CAPITAL? The manufactured goods used to make other goods and services
WHAT DO PEOPLE NEED? PEOPLE NEED FOOD, SHELTER, AND CLOTHING
Created by: cbrow0317
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