Chapter 1 Mcgraw Hill
Help!
|
|
||||
|---|---|---|---|---|---|
| Scarcity | show 🗑
|
||||
| show | - Basic requirement for survival, including food, clothing, and shelter.
🗑
|
||||
| show | -Work or labor performed for someone; economical product that includes haircuts, home repairs, and forms of entertainment.
🗑
|
||||
| Entrepreneurs | show 🗑
|
||||
| Utilities | show 🗑
|
||||
| show | - People with all their abilities and efforts; 1 of 4 factors of production; does not include the entrepreneurs.
🗑
|
||||
| show | - monetary worth of a good or service as determined by the market.
🗑
|
||||
| show | - Productive resources needed to produce goods; the four factors are land, capital,labor and entrepreneurship.
🗑
|
||||
| show | - Monetary value of all final goods,services, and structures produced within a country's national borders during a one-year period.
🗑
|
||||
| show | -tool, equipment, or other manufactured good used to produce other goods and services; a factor of production ?
🗑
|
||||
| Consumer good | show 🗑
|
||||
| Economics: | show 🗑
|
||||
| Production possibilities curve- | show 🗑
|
||||
| show | - An item that lasts fewer than three years when used on a regular basis.`
🗑
|
||||
| Wealth | show 🗑
|
||||
| Good | show 🗑
|
||||
| show | - Cost of the next best alternative use of money, time, or resources, when one choice is made rather than another.
🗑
|
||||
| show | - apparent contradiction between the high value of a nonessential item and the low of an essential item.
🗑
|
||||
| show | - tools, equipment, and factories used in the production of goods and services; one of the four factors of production
🗑
|
||||
| Durable Good | show 🗑
|
||||
| Accumulation | show 🗑
|
||||
| show | takes place when factors of production perform only tasks they can do better or more efficiently than others.
🗑
|
||||
| show | Process or means by which something can be accomplished.
🗑
|
||||
| show | An Increase in a nation’s total output of goods and services over time.
🗑
|
||||
| show | - The protection or promotion of the interests of consumers.
🗑
|
||||
| show | - Measure of the amount of output produced in a specific time period with a given amount of resources; normally refers to labor, but can apply to all factors of production.
🗑
|
||||
| show | - Natural resources or “gifts of nature” not created by human effort;one of the four factors of production.
🗑
|
||||
| show | -meeting place or mechanism through which buyers and sellers of an economic product come together;may be local, regional,national,or global
🗑
|
||||
| Factor Markets- Markets in which productive resources are bought and sold. | show 🗑
|
||||
| Product Market | show 🗑
|
||||
| show | - comparison of the cost of an action to its benefits
🗑
|
||||
| show | - Market economy in which privately owned businesses have the freedom to operate for a profit with limited gov intervention
🗑
|
||||
| show | -Mutual dependence of the economic activities of one person,
company,region ,or nation on those another person,company,region,or nation.
🗑
|
||||
| show | - capable of being passed from one person to another
🗑
|
||||
| show | - our quality of life based on the ownership of the necessities and luxuries that make life easier.
🗑
|
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.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
demerson