Economics

What is the 5th step in the decision making process

Decrease consumption threatens our natural resources

One example of a Natural Resource

Needs include

As companies produce more green options to their current products it helps to combat the threat to natural resources

Economics is the study of _____________ and _________________

Which statement is true in regards to resources

The first step in decision making is to identify the choices

Economic decision making is the process of choosing which needs and wants will be satisfied

Economic Resources are also know as factors of marketing

Step 3 in decision making is...

People who produce goods and services

What item doesn't fit in the economic problem equation?

Humans resources include

Scarcity is caused by limited resources

Screen Printing is the best

Animals, crude oil, forest, precious metals are examples of?

One group that is most affected by scarcity

There are some factors that determine if something is a need or not

The value of the next best alternative that you were not able to choose

Examples of a "want"

Business class is lame.

When you have to give up something to have something else, it is called...

Tools, buildings, machinery and equipment are examples of:

There are 5 steps in decision making

Economics is reconciling ________________ with ______________________

Humans have limited wants and needs

For Americans most purchases do more then meet needs, they make life easier and more comfortable