Remediation for Fundamental Economic Concepts

Scarcity forces society to do what?

What is an example of a good personal choice when dealing with scarcity?

In a market economy, what determines the price?

When the factors of production are controlled by the people, the economic system is ______?

An example of a government choice to help with scarcity is _____?

What is considered land in the factors of production?

What is considered labor in the factors of production?

When you give up $30,000 because you chose to go to college instead of work, what is occurring?

What is considered capital in the factors of production?

When your grade drops because you chose sleep over school, what is occurring?

When deciding on whether or not to sleep in or get up for school, what did you think about?

When the factors of production are controlled by the government, the economic system is ______?

In a command economy, what determines the price?

Which one is not an example of a need?

When choosing a dog over a cat, what is taking place?

When choosing school over work, what is taking place?

Who is considered an entrepreneur in the factors of production?

Which one is not an example of a want?