stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economics Unit Assessment Review Flashcards | StudBud
Explore
/
Economics Unit Assessment Review
Natural resources are...
An example of a “need” is…
Economics Unit Assessment Review
17 terms
·
StudBud Administration
·
203 plays
Imported from external platform
Flashcards
17 cards
F
Practice quiz
P
Host live
L
Questions
17
Answers
1
An example of a “need” is…
Shelter
a new xBox
an iPhone
2
Natural resources are...
Tools and machines used to make goods
Resources that come from the Earth and are often limited in supply
People who work to provide goods and services for consumers
3
An example of a “want” is…
an iPhone
Shelter
Food
4
People can trade, or ______________, to get a good or a service they want without using money.
Income
Purchase
Barter
5
When DEMAND goes UP, SUPPLY goes ___________.
Up
Down
6
People can get a good or service they want by using money to make a _________________.
Purchase
Barter
Income
7
A need is something that we MUST have to survive.
False
True
8
Producers sell __________ and __________ to make money.
Savings and Resources
Taxes and Money
Goods and Services
9
People earn ________________ by working.
Money
Job
Savings
10
Human resources are...
Resources that come from the Earth and are often limited in supply
Tools and machines used to make goods
People who work to provide goods and services for consumers
11
When SUPPLY goes UP, DEMAND goes ___________.
Up
Down
12
People who buy goods and services (spend the money to get what they want or need) are __________.
Consumers
Producers
Scarcity
13
When SUPPLY goes UP, the PRICE might go ___________.
Down
Up
14
People who sell goods and services (make the money) are __________.
Consumers
Producers
Scarcity
15
When DEMAND goes UP, the PRICE might go ___________.
Up
Down
16
Capital resources are...
Resources that come from the Earth and are often limited in supply
Tools and machines used to make goods
People who work to provide goods and services for consumers
17
A want is something that we MUST have to survive.
False
True
