Econ Unit I

This is a human skill in starting a business?

Refers to increasing the production of goods and services?

Which of the following is not a requirement for a beginning Entrepreneur?

The market economy tends to have what type of government?

Social Security, unemployment insurance, and workmans comp are called?

What are the four types of economic decision makers?

The driving force that drives people is called?

Which of the following is a scarce resource?

Refers to the total satisfaction from a good or service?

What is a Dividend?

What year did the stock market crash that led the USA into the Great Depression?

What does a corporation sell to raise $ for their business?

Worked performed for someone is considered?

This is what you collect after 20 years working for the railroad, in the military, or teacher?

This is the most popular investment?

Gifts of nature, not man made?

Benefits offered to encourage people to take certain actions?

What is not true about sole proprietorship?

Three basic questions of we ask in economics to produce are?

Saudi Arabia raises oil prices and the gas prices rise in the USA?

I really like my bike but it cost too much so now I can't go to the movies. Example of what?

Perform mental and physical work:

What President implemented regulations on the stock market?

Economics can be defined as the study of how people in society allocate _______resources to people with_____wants/need

This bond is really risky but can make you some $

Example of a Command Economy?

The process of creating goods and services is called______

The type of economic system where people act in their own best interest?

These are simply desires of citizens of a society?

Which of the following are the four factors of production?

A good that is intended for final use by a consumer?

____ is the fundamental economic problem facing all societies. the problem is how to satisfy wants and needs.

To Utilize less than fully or below the potential use:

____ are the basic requirements for survival in economic terms?

When you buy stock, you want to?

What is most true about partnerships?

You buy a Corvette to impress others:

_____ goods are goods that are intended to last longer than three years after production.

The federal program in the US that supports those citizens that are retired and disabled?

Every choice involves costs, someone has to pay for it:

Opportunity Cost can be defined as?

Diamonds are very expensive but not necessary for survival but water is necessary for survival but is less valuable.

The economic system in which private citizens own the factors of production?

Tangible commodities are considered?

This investment is used for the 401K Program which is diversified:

Any good that does not last for three years when used on a regular basis is called ______

GDP stands for?

A capital good is a good that?

In this type of economy system, the central authority makes the decisions?

Adam Smith wrote the ____________?

This is the largest stock exchange in United States?

A diagram that represents various combinations of goods and services an economy can produce?

The innovators responsible for the changes in the economy because of taking a risk: