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Econ 1-2 Flashcards | StudBud
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Econ 1-2
Econ 1-2
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1
c.e.l.l. is the acroynm for what?
economic systems
factors of production
theories of economics
2
which is not an economic need
<p>shelter</p>
food
money
3
The part of the economy which is made up of individuals and non -government entities is called?
supply- side economics
intermediate sector
public sector
private sector
4
The additional or extra expense of producing one more item is called ________.
shortage
variable cost
marginal cost
allocation
5
the choice you give up doing is refered to as
opportunity cost
the give up
Gavin theory
6
We all face the universal problem of _______________,
money loss
trade- offs
lack of emotionally balanced relationships
scarcity
7
can you state what our behavior matrix means?
no
yes
8
who is an entrepreneur?
drives a school bus
bags grocery bags
owns a quilting shop
teaches school
9
a shortage is determined by who?
consumers
government
producers
