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Mixed market

When the economy is using all resources it's called ?

Basics of Economics

14 terms·StudBud Administration

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Questions 14

Answers

1
When the economy is using all resources it's called ?
growth
Effiency
Underutilization
2
Mixed market
Competitive
All types of econ
Family and community
Strong gov
3
Economic system
Series of questions
Method to distribute/produce goods and services
Distributes money
Plays games with us
4
Free market
Strong gov
Family and community
Competitive
All types of econs
5
Opporitunity cost
A form of a trade off
Minimize your cost, maximize your benefit one over the other
What you pay
6
What is scarcity?
Not enough food
Not enough money
Not enough services
All of the above
7
Thinking at the margin
Money
Thinking
Adding another option,see if the benefit is better than cost
8
Physical capital is?
Paper books pencils
Skill talent knowledge can't see
Tool tech machine touch see
9
Centrally planned
All types of econs
Competitive
Strong gov
Family and community
10
Human capital
Tool tech machine
Skill talent knowledge
Paper books pencils
11
Economics is the study of?
Satisfy wants and needs through making choices?
satisfy cats?
Satisfy your music taste?
Satisfy your decisions on how to handle your money?
12
land, labor, capital is?
Factors of productions
Services
Factors of unproduction
Resources
13
Alternatives we give up when we chose something over the other is?
Opportunity cost
Factors of production
Trade off
14
Line on a graph
Possibility amish
Production possibility frontier
Prodution pioneer