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Economics Review Flashcards | StudBud
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Economics Review
Economics Review
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Questions
10
Answers
1
High supply means high price
True
False
2
An electrician is an example of a service
True
False
3
What is an entrepreneur?
Someone creative who starts a business
Someone who is good at math
Someone rich
A child actor
4
Higher demand means higher price
False
True
5
What is the definition of economy?
How much pollution there is on the planet
How to get rich
System of making and trading things of value (Goods and services)
Walmarts
6
A risk to business is losing money
True
False
7
Price is how much you pay for an item
False
True
8
Scarcity means there is a high supply of goods or services
False
True
9
Consumers and Producers are the same thing
False
True
10
What is an example of a natural resource?
Electricity
Lumber
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