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Econ Test

Enter the letter for the matching Definition
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1.
Natural resource
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2.
Production possibilities
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3.
Database
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4.
Needs
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5.
Trade off
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6.
Specialization
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7.
Resource
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8.
Manufacture
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9.
Choice
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10.
Labor
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11.
Productivity
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12.
Economics
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13.
Technology
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14.
Good
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15.
Factors of production
A.
to turn materials into products people use every day
B.
a large collection of information stored on a computer
C.
resources that are used to make goods and services
D.
Work
E.
all combinations of goods and services that can be produced from a fixed amount of resources in a given period of time
F.
the amount of goods and services workers can produce in a given time
G.
the act of giving up one thing for another
H.
the use of science to create new products or make old ones better
I.
a raw material found on earth such as water minerals land and forests
J.
the act of deciding on and selecting what is wanted most
K.
when a person, country, or region works on making one part of an item
L.
something that is necessary to remain alive
M.
the study of how people and countries make decisions about how to use their scarce resources in the most efficient
N.
Anything that people use to make thing or to do work
O.
an item people buy such as a car, television or bed
Type the Term that corresponds to the displayed Definition.
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16.
a problem in with wants are greater than what is available
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17.
the person who runs a business or some part of it
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18.
dividing up workers so that each worker completes one job which is one part of a larger job
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19.
each possible use of a resource
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20.
work done for other people for a fee
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21.
when someone starts a new businesses or improves an old one
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22.
a system in which a product moves from worker to worker so it can be put together faster
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23.
a thing that is not needed to survive but that makes life better
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24.
the cost of choosing one choice over another
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25.
things of worth machines,buildings, tools, and money

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Created by: mtrampf
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