Home Library Explore SAT

Home Library Explore SAT

Economics Terms Review Flashcards | StudBud

Explore/Economics Terms Review

Economics Terms Review

10 terms·StudBud Administration·156 plays

Imported from external platform

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
Which is the best example of a country specializing?
Making trade agreements with only a few countries.
Producing only a few goods so you are best at making them.
Getting really good at Halo and ruling the world.
Producing many goods for export.
2
What is a good?
A tangible (something you can touch) item.
When FSU loses the national championship.
A haircut.
An education.
3
What is a market economy?
When the government decides pricing.
When producers and consumers determine pricing.
When producers and consumers go to Publix.
When producers and consumers determine pricing of oil only.
4
What is capital?
Goods necessary to operate a business.
Utilities and cars only.
Atlanta.
Lights and Heat only.
5
Which of the following is an example of a country investing in human capital?
Opening factories in South Africa.
People making letters while singing the YMCA song.
Opening several colleges in Nigeria.
Building hotels for tourists in Kenya.
6
What is supply?
The amount of items you can stuff in your mouth.
The amount of items available for sale.
The amount of items produced in a given year in a country.
The amount of items available for sail.
7
What is GDP?
Gross Domes Product
Gross Domestic Product
Gross Domestic Produck
Grass Domestic Product
8
What is entrepreneurship?
People who make goods only.
Risk taking business people who start businesses.
People who provide services only.
French pastry makers.
9
Who makes the decisions in a command economy?
The Mom
The governor
The Producers and Consumers
The government
10
What is a service?
An intangible(unable to touch) economic item, like a haircut
A One Direction CD smashing party.
A glitter pen.
A pencil.