When the demand significantly exceeds the supply and production.

Which are Examples of an Opportunity Cost

Doing Nothing Instead of Saving a Drowning Child, Meeting Obama Instead of Paying Your Taxes

Four Primary Factors of Production

land, entrepreneurship, capital, labor

What is the Difference between Microeconomics and Macroeconomics

Micro - Smaller Scale: Macro - Larger General Scale

Who are the 4 Economic Agents

Households, firms, governments, central banks

What Would Happen if the Economy Collapsed

Demand would outstrip the supply of food, gas, and other necessities., cry.exe, Crime would increase significantly, Innovation and progress would be impacted and businesses would close.

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Economics

10 termsStudBud Administration17 plays

ec·o·nom·ics /ˌekəˈnämiks,ˌēkəˈnämiks/ noun 1. the branch of knowledge concerned with the production, consumption, and transfer of wealth. 2. the condition of a region or group as regards material prosperity. "he is responsible for the island's modest economics"

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Questions 10

Answers

1
What is Scarcity
When the demand significantly exceeds the supply and production.
When the production significantly exceeds demand.
An insistent and peremptory request, made as if by right.
Failure to understand something.
2
Which are Examples of an Opportunity Cost
Doing Nothing Instead of Saving a Drowning Child
Accessibility LinkSkip to main contentAccessibility helpAccessibility
Meeting Obama Instead of Paying Your Taxes
Empty choice
3
Four Primary Factors of Production
land, labor, capital, time
I don't know I am an illegitimate businessman
land, time, electricity, labor
land, entrepreneurship, capital, labor
4
What is the Difference between Microeconomics and Macroeconomics
Micro - Smaller Scale: Macro - Larger General Scale
I cannot comprehend
They are the same
Micro - Larger General Scale : Macro - Smaller Scale
5
China is Not the Top Exporting Country
False
True
6
Resources are limited, but wants are ____
infinite
Empty choice
Finite
Imagine actually choosing this option
7
How to Reduce Inflation
Call Obama
Print Money
Increase Production Costs
Use Bank Reserves
8
Who are the 4 Economic Agents
Households, firms, governments, Foreign aid
Households, firms, governments, central banks
CIA, FBI, CDC, DOD
Households, illegitimate businesses, governments, central banks,
9
What Would Happen if the Economy Collapsed
Demand would outstrip the supply of food, gas, and other necessities.
cry.exe
Crime would increase significantly
Innovation and progress would be impacted and businesses would close.
10
This is the formula for law of demand
True
False

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