What is Economics?

What is a consumer?

What are the factors of Production?

What is Scarcity?

An economic system in which business are allowed to produce any goods and services they wish to is referred to as ...

A situation that occurs when two or more businesses try to sell the same type of product to the same customers is referred to as ...

An economic system in which private property is almost totally restricted is called what?

What are the three basic economic systems?

In the former Soviet Union consumers had to wait in long lines to buy everyday items like bread. They did not have many choices and the government controlled factories. What type of economy did they live in?

Which of the following is a good?

Which of the following is a service?

What are the three Factors of production?

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