Basic Economic Concepts

Paying rent instead of purchasing tickets to a concert is an example of-

The economic system in the United States is referred to as free enterprise, free market, or-

Which resource would be considered the factor of production called land?

Which of the following buys goods for personal use?

Which of the following explains econmics as it is, not as it should be?

Which of the following accounts for why countries specialize in particular trade products?

Which involves using resources to produce the maximum amount of goods and services?

A pie graph would be best type of graph to show-

Which is not considered a need?

Scarcity is a basic economic problem because-

A country seeking to increase tourism will probably increase the production of-

What does a point inside the curve of a PPC indicate?

Which of the following would macroeconomics study?

An example of a trade-off is-

A graphic organizer that is especially useful for showing changes over time is a-

Who wrote The Wealth of Nations?

Which of the following explains economics as it should be?

What does the saying, "There is no such thing as a free lunch" mean?

Into what four categories do economists divide factors of production?

Which is especially useful for comparing data?