JA Finance & Econ Word Scramble
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Question | Answer |
What is the first major decision made in an economy? | What to produce |
What is the second major decision made in an economy? | How to produce it |
What is the third major decision made in an economy? | Who will get the goods and services produced |
The government usually owns the economy in a | Command Economy |
The people usually make the economic decisions ina | Market Economy |
Economic decisions are based on long standing decisions in a | Traditional Economy |
The highest valued benefit given up when a choice is made is called | Opportunity Cost |
In today's world, most countries have a... | Mixed Economy |
When a country cannot grow enough food to meet demand this is an example of? | Scarcity |
Three basic factors of production are? | Land, labor, and capital |
Financial trust extended to another person is called | credit |
One disadvantage of using credit is that it encourages | impulse spending |
When you use a credit card you buy now... | pay later |
Three variables that affect saving money are | amount, time, and interest |
The resources people have for satisfying their wants are called | Factors of Production |
Anything produced in an economy that is used to produce good and services is called | Capital |
The act of buying goods or services is called | consumption |
Created by:
Simryla
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