2nd Quarter Review

Question 1

U can pick a Starbucks gift card or Chipotle gift card. U pick the Chipotle GC, what's your OC?

Accepted Answer

You lost the chance to go to Starbucks

Question 2

Water, trees, coal, and oil are examples of which resource?

Accepted Answer

Natural

Question 3

A capital resource is...

Accepted Answer

Tools used to perform the goods/services

Question 4

In a market equilibrium the supply and the demand are....

Accepted Answer

Equal

Question 5

People who provide goods and services, is a?

Accepted Answer

Producer

Question 6

What happens to the price when: supply stays the same and demand decreases.

Accepted Answer

Price will go down

Question 7

An oven, sewing machine, and conveyor belt are examples of which resource?

Accepted Answer

Capital

Question 8

Eating a slice of pizza or going to the movies, make you a?!

Accepted Answer

Consumer

Question 9

An arrangement of machines, equipment, & workers which work passes from operation to operation,

Accepted Answer

Assembly Line

Question 10

People who use goods and services, is a?

Accepted Answer

Consumer

Question 11

A car, food, medicine, and a basketball are examples of?

Accepted Answer

Goods

Question 12

The amount of product that people WANT TO BUY at a given price.

Accepted Answer

Demand

Question 13

Washing dishes or baking cookies, makes you a?

Accepted Answer

Producer

Question 14

A need is....

Accepted Answer

Things you need in order to survive.

Question 15

A natural resource is..

Accepted Answer

A non manmade item

Question 16

How much of the PRODUCT IS AVAILABLE at a given price is the what?

Accepted Answer

Supply

Question 17

A physical item that can be bought, touched, and used...is a?

Accepted Answer

Good

Question 18

A human resource is....

Accepted Answer

Service providers

Question 19

A want is....

Accepted Answer

Things that make life more fun, but you could live without.

Question 20

What happens to the price when: supply increases and demand stays the same.

Accepted Answer

Price will go down

Question 21

When a person specializes in doing one part of a task, and relies on others to complete

Accepted Answer

Specialization

Question 22

A doctor, chef, teacher, and football player are examples of?

Accepted Answer

Services

Question 23

When specialization occurs it leads to...

Accepted Answer

Increased production

Question 24

A doctor, truck driver, and basketball player are examples of what type of resource?

Accepted Answer

Human

Question 25

What happens to the price when: supply stays the same and demand increases.

Accepted Answer

Price will go up

Question 26

The action done for people who pay

Accepted Answer

Services

Question 27

Food, Water, Shelter, and Clothes are all examples of what?

Accepted Answer

Need

Question 28

video games, cell phone, designer shoes, and candy are all examples of what?

Accepted Answer

Want

Question 29

A circle graph shows what type of relationship?

Accepted Answer

Part to Whole

Question 30

What means "dependent on others for some needs"?

Accepted Answer

Interdependence

Question 31

What happens to the price when: supply decrease and demand stays the same.

Accepted Answer

Price will go up

2nd Quarter Review

Questions 31

2nd Quarter Review

Questions 31