unit 1 cp econ

What factor of production do these images illustrate?

Which of the following is an example of a service

The study of economics is important because it enables us to

Points "B" and "D" are on the...

In the book Wealth of Nations, ______preached the benefits of _________.

Adam Smith believes that the government should be heavily involved in the economy

Laizzez Faire is associated with 

Karl Marx believed that workers

Which point can not be reached without more resources or technology?

In reality, most economies are ________________.

Adam Smith believed that governments role should be confined to all of the following except

Any resource made by humans and used to create other resources

Which point on the graph best illustrates the concept of scarcity?

Which of the following WOULD NOT cause a PPC to shift right

In a traditional economy, what determines what you do?

The fundamental problem of economics is

The purpose of government in a command economy is to

An incentive can best be described as

What is the opportunity cost of getting a Coke from this vending machine?

Which group ultimately determines the products that a free enterprise economy produces?

How are public goods paid for in the US?

Which of the following is not a productive resource

The government's role in a mixed economy is that it is the

How do consumers BEST make their desires known to businesses

What is the opportunity cost of moving from "A" to "B"

Which of the following IS NOT a key economic question

When manufactured goods are used to produce other goods, they are called capital goods.

Jim has $10 and can see a movie or get dinner.  He gets dinner.  What is the opp. cost?

Scarcity exists primarily because

The entrepreneur organizes land, capital, & labor for production in hopes of earning a profit.

In a capitalist system monetary incentives encourage

Which productive resource does this represent?

Which of the following best describes what this production possibilities frontier is showing?

The most desirable alternative forgone when a choice is made

A warehouse building is an example of

When people are deciding how much more or less to do they are....

Who makes the decisions in a market economy

This man started a business.  He represents which productive resource?

A taxi cab drivers knowledge of the city streets would be considered

Which point represents underutilization

A popular model used to illustrate the concept of opportunity cost is

Manufactured goods needed to produce other goods and services are called

North Korea, China, and Cuba are all examples of...