Economics Final Exam Review (Part 2)

Match it! Select the correct answer from the pull down...Good luck!

In a circular flow of money of a mixed economy, the _______________ puts money into the economy by purchasing goods and services that are needed to run the government and help society.

Choosing one product over another due to resources being limited is called...

Producers take the money they earn from selling products and use it to buy the things they want and need. This describes a ________________ economy

Land, labor, and _______________are three factors of production

A production possibilities graph can show the effects of industrialization on the environment.

_______________ polices involve increasing spending and cutting taxes.

When a market is in _________________ , the quantity demanded and the quantity supplied is equal.

When there is a _________________, producers raise the price of the good so that demand will be lowered.