Economics Unit 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| need | show 🗑
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| show | something that people desire but that is not necessary for survival
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| show | the physical objects that someone produces
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| show | the actions or activities that one person performs for another
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| show | the principle that limited amounts of goods and services are available to meet unlimited wants
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| show | the study of how people seek to satisfy their needs and wants by making choices
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| shortage | show 🗑
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| show | a person who decides how to combine resources to create goods and services
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| show | the resources that are used to make goods and services
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| show | all natural resources used to produce goods and services
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| show | all natural resources used to produce goods and services
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| labor | show 🗑
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| show | any human-made resource that is used to produce other goods and services
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| physical capital | show 🗑
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| show | the knowledge and skills a worker gains through education and experience
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| trade-off | show 🗑
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| "guns or butter" | show 🗑
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| show | the most desirable alternative given up as the result of a decision
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| show | the process of deciding whether to do or use one additional unit of some resource
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| cost/benefit analysis | show 🗑
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| marginal cost | show 🗑
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| show | the extra benefit of adding one unit
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| production possibilities curve | show 🗑
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| show | a line on a production possibilities curve that shows the maximum possible outcome an economy can produce
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| show | the use of resources in such a way as to maximize the output of goods and services
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| underutilization | show 🗑
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| show | an economic principle which states that as production shifts from making one good or service to another
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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.
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Created by:
JAveryUC
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