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Basic Economics Flashcards | StudBud

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you do not need it to live (cable,iPhone etc)

examples of this are machines, buildings, tools and money

Basic Economics

9 terms·StudBud Administration·7 plays

Introducing the basics of Economics

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Questions 9

Answers

1
examples of this are machines, buildings, tools and money
need
goods
capital
want
2
you do not need it to live (cable,iPhone etc)
water
want
goods
food
3
the study of how people and countries use money
Labor
Economics
money
work
4
another name for work is.......
labor
hard
capital
Economics
5
products you buy
goods
need
labor
want
6
you need it to live (water, food,a home)
entrepreneurship
scarcity
need
resource
7
a person who starts their own business
want
goods
entrepreneurship
need
8
not enough of something
too bad
scarcity
so sad
need
9
what are the three economic questions
How should it be produced?
Who to make it for?
what should be produced?
go spend money