CE 11a Economics Types Of Economic Systems Question Preview (ID: 46532)

a) money, equipment and land

b) people, human, money and capital

c) human, natural, and capital

d) things found in the earth and then used by humans to make or produce something

a) human resources, capital resources, and natural resources

b) design, make, and sell

c) borrow money, buy your resources, make the product and sell the product

d) things that make producers make a difficult decision

a) themselves do without things they must have to live

b) the government help them

c) choices

d) the decision to borrow money to purchase what they need

a) that there are too many things to choose from

b) that businesses, individuals and the government are afraid of financial decisions

c) that we have unlimited wants, bur our resources are limited

d) that we often have more than we need of something

a) the inability to satisfy all wants at the same time

b) the inability to provide for your family

c) the inability to get a job

d) to be really afraid of a decision or choice you must make

a) selection, corporation and interaction

b) opportunity cost

c) a right and wrong decision

d) freedom to decide

a) is what you decided to not pick

b) the one you lost

c) wrong or a bad choice

d) opportunity cost

a) 2 because you are choosing or deciding yes to one a chooshing or saying no to another choice

b) 3 because you always have more things to choose from that just one

c) you have as many as you have possible choices - so the number can vary

d) one you can only pick one thing at a time

a) Opportunity Cost

b) scarcity

c) production

d) the value of products

a) so close

b) near perfect

c) almost good

d) opportunity cost

a) the combining of human, natural, capital and entrepreneurship resources to make goods or provide services

b) to transfer a dream into a reality

c) the people who work for a company or factory to make items for sale

d) the way that products are packaged for stores to sell

a) a producer buys things to make things and a consumer sell those things to the producer

b) a consumer consumes or buys good for personal use and a producer only sells things in a marketplace

c) consumers buy and producers make things for the consumer to buy

d) the selling and buying of goods

a) the making of goods and services

b) having the money to buy because you have made money by selling things

c) is eating on hamburger all by yourself rather than splitting the hamburger with someone else

d) the using of goods and services

a) What the sellers sees as the value of their good or service

b) the producers because they need to make money

c) consumer preference by what is purchased and consumed

d) a test market determines the price