Fundamentals (Set 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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| show | The "fundamental economic problem". There are limited resources to meet unlimited wants.
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| show | Land, Labor, Capital, Entreprenuership
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| Land | show 🗑
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| Labor | show 🗑
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| show | Human-made goods/tools used in the production of a good or service. (i.e. machines on an assembly line)
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| show | Knowledge, skills, and experience of workers used in the production of a good or service.
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| Entreprenuers | show 🗑
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| show | Most desirable alternative forgone (given up) when a decision is made.
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| "guns or butter" | show 🗑
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| Allocate | show 🗑
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| Production Possibilities Curve | show 🗑
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| show | Using all of your available resources to maximize the production of goods and services.
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| Underutilization | show 🗑
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| show | Line on production possibilities curve that represents an efficient use of resources
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| show | Shown on a production possibilities curve with a rightward shift.
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| "Thinking at the Margin" | show 🗑
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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.
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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:
croper1
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