Economics Unit I Review

Who wrote The Communist Manifesto?

What amendment gives corporations the same rights that any citizen of the U.S. has?

What is the cost of the next best alternative when one choice is made over another?

What type of business is owned by two or more people?

What is the corporate profits that are paid to stockholders of a company called?

What refers to the work time and effort that people devote to producing goods and services?

What economic principle states "buyers will want a greater quantity of a good at a low price"?

What type of economic system does the U.S. have?

Which of the following is NOT a natural resource?

What's the social science that studies the choices that individuals make to cope with scarcity?

Which one of the following is NOT a type of business?

What is the major driving force behind the American Economy?

Who is considered to be the "father of economics"?

What principle states "a business owner may operate their business, however, they see fit."?

What principle states "businesses will produce more products when sold at a higher price."?

Which of the following is NOT an example of Capital?

Which of the following is NOT one of the factors of production?

What type of economic system allows for the government to have total control over businesses?

What is it called when a government pays a business money as a way to help control prices?

What type of business is recognized as a separate legal entity in the U.S.?

Who wrote the Wealth of Nations?

Which of the following is NOT an example of Human Capital?

Which of the following would be a positive incentive?

What is a company that controls all production of a good or service?

What is the fundamental economic problem facing all societies?