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Basics of Economics Vocab Flashcards | StudBud
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Basics of Economics Vocab
Basics of Economics Vocab
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Answers
1
Match the term with the definition: something so plentiful that one could possibly own them, and no price put on it.
Free Trade
Free Products
Free Goods
Unclaimed Factors
2
A mean of expressing or satisfying a need is call a...
Wish
Desire
Want
Hope
3
Match the term with the definition:
a good intended for final use by individual people, not businesses.
Goods
Capital Good
Consumer Good
Human Good
4
An
Capital Good
is
a manufactured good used to produce other goods and services. Usually purchased by a business
True
False
5
Define the following term:
economic products
Goods and services that existed only in the past
goods and services that are useful, relatively scarce, and transferable to
Products sold by individuals only
Products provided by the government
6
Define the following term: Need
Something that makes life easier
A way of satisfying a need
a basic requirement for success
a basic requirement for survival.
