What is entrepreneurship?

Owner and a manager run the business

What's a competition?

A business that competes for there customers

What does scarcity mean?

limited resources in the world, People have unlimited wants

goods and services, How nations make thins and buy things

What does supply mean?

How much goods and services they have for people

What are the 4 factors of production

Natural & Human resources-Capital goods-Entrepreneurship

What does Demand mean?

When people want a good or service

Items that can be bought or sold

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Economics

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This is a quiz about Economics

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Questions 16

Answers

1
What is entrepreneurship?
Owner and a manager run the business
owner of a business
Managers of a business
A business
2
What's a competition?
Offers money
How much services they have for the peoople
A business that only an owner runs
A business that competes for there customers
3
Whats a producer?
Makes services
Makes goods and services
Make goods
A market place
4
What is a capital good?
Talents
Talents, skills, and resources
Skills
resources
5
What is land?
Human resource
Labor
Natural resource
Entrepreneurship
6
Whats a consumer?
Buys goods or services
Makes goods and services
Buys goods
Buys services
7
What does scarcity mean?
Very little money
limited resources in the world
People have unlimited wants
Very little food
8
What is Labor?
People doing services
people goods and services
people doing goods
Trucks
9
What is Economics?
How people buy things
A business
goods and services
How nations make thins and buy things
10
What does supply mean?
When people want a good or service
How much goods and services they have for people
Tradeoffs
Goods or services
11
What are the 4 factors of production
Human rights and freedom
Land, money, and jobs
Natural & Human resources-Capital goods-Entrepreneurship
weathering and erosion
12
What is an Economist?
How people buy things
Who studies animals
A person who studies economics
people who make goods and services
13
What does Demand mean?
forcing people for goods
When people want a good or service
have unlimited wants
forcing people for services
14
what is a Service?
Items that can be bought or sold
Kinds of fun stuff
people steal stuff
Various kinds of activities
15
What is a market clearing price?
When customers want money
when customers demand producers
When the customers want the same thing the other person has
when customers demand supplies
16
Whats a good?
An owner of a business
Items that can be bought or sold
A Human resource
A capital good

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