Unit 1.01
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
---|---|---|---|---|---|
Combines elements of the comand and market economies | Mixed economy
🗑
|
||||
The initive to combine natural, human, and capital resources | Entreprenurial resorces
🗑
|
||||
Value of the next best alternatice that is forgone to produce or obtain another product | Oppertunity cost
🗑
|
||||
Buisnesses that offer the same goods to the same customers | Competitors
🗑
|
||||
Individuals and organizations that determine which goods and services will be available for consumption | Producers
🗑
|
||||
Process of choosing which needs or wants will be satisfied | Economic decision making
🗑
|
||||
Means from which goods and services are produced | Economic resources
🗑
|
||||
Right to purchase, use, and discard of things of value | Private Property
🗑
|
||||
Activities that can be consumed at the time of purchase to satisfy needs and wants | Services
🗑
|
||||
Condition that exists when wants or needs exceed resorces available | Scarcity
🗑
|
||||
Study of the decisions made for production, distrbution, and consumption of goods and services to satisfy needs and wants | Economics
🗑
|
||||
Necessities for living | Needs
🗑
|
||||
Buys and uses the goods and services | Consumer
🗑
|
||||
Goods and money used on the production of goods and services | Capital Resorces
🗑
|
||||
Raw materials supplied by nature | Natural Resorces
🗑
|
||||
People using efforts, knowledge, and skills at work to produce goods and services | Human resoures
🗑
|
||||
Economic system which freedom to consume and produce goods and services exist | Free enterprise
🗑
|
||||
Economic system in which decisions are based on customs and centered on famiy | Traditional Economy
🗑
|
||||
Items purchased to satisfy needs and wants | Goods
🗑
|
||||
Money left after selling goods and services and cost of operating a buisness have been paid | Profit
🗑
|
||||
Goods that are purchased to add comfort or pleasure to life | Wants
🗑
|
||||
Anywhere goods and services exchange hands | Marketplace
🗑
|
||||
Process of giving up something for gaining something else | Tradeoff
🗑
|
||||
Goods and services are owned and controlled by the people | Market economy
🗑
|
||||
Opportunity to make choices of goods and services and accept consequences of decisions | Freedom of choice
🗑
|
||||
Economics system in which the goverment owns resources and dictates what is produced | Command economy
🗑
|
||||
The point where supply and demand are equal | Market price
🗑
|
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:
lancerammo77
Popular Computers sets