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Econ Test 1

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
show government  
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Most jobs are handed down from parent to child in a   show
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Which of the following is considered to be a human resource?   show
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show traditional economy  
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The production possibilities available to a nation are shown on a   show
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Great variety of goods and services is characteristic of   show
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Which of the following is true of resources and wants?   show
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A production possibilities graph illustrates   show
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show consumer  
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show government ownership of businesses  
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show car  
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show human, capital, natural  
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show when to produce  
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A basic economic problem facing all societies is   show
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An example of a natural resource is all of the following except   show
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When a person gives up time, money, goods, and services for another choice it is a(n)   show
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show natural, human & capital resources  
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Capital goods are   show
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show microeconomics  
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show military and consumer goods  
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show Obamacare  
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This idea - put forth by Adam Smith - says that many underlying causes that cannot be seen lead consumers and producers to agree on prices for items.   show
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show Businesses within a country should be free to run without government interference  
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Which one of the following would be a great example of a market economy?   show
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Which one of the following would be a great example of a command economy?   show
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Created by: migliorej
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