Chapter 1 Mcgraw Hill
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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| Scarcity | show 🗑
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| Need | show 🗑
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| Service | show 🗑
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| Entrepreneurs | show 🗑
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| show | -ability or capacity of a good or service to be useful and give satisfaction to someone
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| Labor | show 🗑
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| show | - monetary worth of a good or service as determined by the market.
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| show | - Productive resources needed to produce goods; the four factors are land, capital,labor and entrepreneurship.
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| show | - Monetary value of all final goods,services, and structures produced within a country's national borders during a one-year period.
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| show | -tool, equipment, or other manufactured good used to produce other goods and services; a factor of production ?
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| Consumer good | show 🗑
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| show | social science dealing with how people satisfy seemingly unlimited and competing needs and wants with the careful use of scarce resources
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| Production possibilities curve- | show 🗑
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| show | - An item that lasts fewer than three years when used on a regular basis.`
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| show | - sum of tangible economic goods that are scare, useful, and transferable from one person to another; excludes services.
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| Good | show 🗑
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| show | - Cost of the next best alternative use of money, time, or resources, when one choice is made rather than another.
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| Paradox of value | show 🗑
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| Capital | show 🗑
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| show | - is one that lasts three years or more when used on a regular basis. Durable goods include tools such as robot welders and tractors, and consumer goods such as automobiles.
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| show | a mass or quantity of something that has gradually gathered or been acquired.
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| Specialization | show 🗑
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| Mechanism | show 🗑
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| Economic Growth | show 🗑
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| show | - The protection or promotion of the interests of consumers.
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| Productivity | show 🗑
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| Land | show 🗑
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| Market | show 🗑
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| Factor Markets- Markets in which productive resources are bought and sold. | show 🗑
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| show | - Market in which goods and services are bought and sold.
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| Cost-benefit Analysis | show 🗑
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| Free enterprise economy | show 🗑
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| Economic Interdependence | show 🗑
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| show | - capable of being passed from one person to another
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| Standard of Living | 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.
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:
demerson