Duplicate of Economics Unit 1 Review

The American economy can be best described as . . .

Which of the following is a service?

Is credited with the idea of a communist society

Man made tools, equipment and factories used to produce other goods and services

Work that is performed for someone else for pay

Theresa started her own pet store because she loves animals. This is characteristic of . . .

What is Monk's middle name

Conserving and protecting fresh water sources is important because . . .

Which is NOT part of the government's role in the American economy?

The struggle among sellers to attract consumers

Which is not an essential economic question?

Individuals owning private property is characteristic of . . .

A good intended to last 3 or more years

Economics is . . .

All the alternatives given up when one makes a final decision

Holds the power in the American free enterprise economy

Using state owned and provided resources to produce goods is characteristic of . . .

All natural resources are classified as . . .

Working hard because you want to make more money

Juan is going to be a carpenter because his dad is a carpenter. This is characteristic of . . .

Frank is going to be a garbage man because government says so. This is characteristic of . . .

When buyers and sellers freely and willingly engage in transactions we have . . .

Which of the following is a NEED?

Using resources to complete a task quickly and without waste is . . .

The economist who wrote about CAPITALISM

True or false? China is a communist society.