Economics- Resources and Needs

An economic system is an organized means by which a nation uses its resources to 

The borrower is

The government supplies _____ through taxes.

Business men produce goods primarily to make

In Communist countries, the government controls__ as well as economic decisions

In a consumer's market there's competition between producers which  means__ for consumers.

The economic system where the government controls almost all economic activity is called

When the supply of a product is less that the demand, prices and profits

Choice tackles the problems of distributing resources to best satisfy wants. (TorF)

A ___ is anyone who creates a product or service for others; human resources.

Price is the amount ___ for goods and services.

Human resources include

The economic system of the United States is

Economics is the study of the distribution of wealth,

Specialization causes people, religions, and countries to become more

Reserves is where ___ backs up the currency.

Abstaining from consumption, or not using, is called

One person does a small portion of the work on a bigger project; this is called

The government 

Available resources are limitless. (TorF)

A tithe means

A simple society is usually

Money's main purpose should be to satisfy our desires. (TorF)

Human wants must be satisfied by

Society as a whole can never keep up with

Taxes the government collects are spent on

An entrepreneur is

Which of the following is not money?

Man-made resources used in production is called

Economic rivalry against sellers is called

People whose wants are satisfied are called

What people want to have produced is called

___ is created by mass production.

Wants are our desires. (TorF)

In a producer's market the producers are ____ and making a large profit.

The amount of a good produced is

The basics of life; food, clothing, shelter, are considered

Every human being is a

Factors of production include entrepreneurship, land, labor, and

Natural resources include

An investment is spending on

One of the following is not a function of money:

In a consumer's market, prices tend to be

__ are collected by the government to provide public services.

Which of the following does the Bible advise for economic success?

A financial program includes a ___ and a wise use of money.

If the demand for goods is large, the supply will

God often supplies ____ of our wants just because He loves us.