Economics!

An accountant’s computer and a carpenter’s drill are all examples of which factor of production

Country X can produce a product at cheaper than Country Y.  This means that Country X:

Things that people do for others

Which of these is a factor of production?

An example of an entrepreneur is:

Each nation depends on other nations for goods and services

Goods brought for sale into the U. S. from other countries are known as:

Nation A produces cars better than it grows food.  So Nation A just produces cars. This is:

As the price of a product gets higher, the supply gets _____________.

Which of these is a factor of production?

Iron, minerals, coal and plants are examples of which productive resource?

Which of the following items is NOT a good?

China produces toys cheaper and at a lower opportunity cost.  This is an example of:

Deals with the production, distribution, and consumption of goods/services & their management

The term “factors of production” means:

Columbian coffee and Dutch tulips, when purchased in the U.S. are examples of:

A country that does not depend on any other country for goods/services

Supply is:

Which of these is a factor of production?

Which of these is a factor of production?

Goods we buy from foreign countries

Which statement best illustrates the concept of demand?

Goods not created for their own use, but to make other goods/services

The buying and selling of goods among nations

Goods sold to other countries by the U. S. are known as:

Opportunity one gives up to do other things

People who buy goods and services to satisfy their needs and wants

The people who run businesses that are too large for single individuals to operate

As the price of a product gets lower, the demand gets _____________.

The work people do to make goods or services

Ability to produce more of a good/service than competitors, using the same amount of resources

A garbage truck driver is an example of which factor of production?

People in each country depend on goods/services produced in other countries. This is known as:

Concentrating on what one country does best 

Goods sold to other countries

Ability to produce a good at a lower opportunity cost than another nation

The natural resources used to produce goods

Person(s) who organize the factors of production to produce goods/services; business owners