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Economics Flashcards | StudBud
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Economics
Economics
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1
The amount of goods and services that a producer wants to sell is called...
Demand
Entrepreneurship
Supply
2
Egypt began as what kind of economy?
command
traditional
market
3
This is another word for money.
Capital
Technology
Resources
4
A mixed economy is based on custom.
True
False
5
The act of running a business is called...
Demand
Supply
Entrepreneurship
6
A continued rise in prices is called...
scarcity
inflation
recession
7
What is shipped out of the country?
imports
exports
barter
8
What is the ability of people to do work?
Labor
Entrepreneurship
Capitol
9
The lack of a resource is called...
scarcity
opportunity cost
capital
10
The United States is considered what kind of economy, one in which each person makes the choices?
Command
Traditional
Market
11
What is is called when goods or services are traded for other goods and services?
imports
barter
exports
12
The amount of somethings that a consumer wats to buy is called...
Demand
Capital
Supply
13
In order to make good and offer services, people need resources.
True
False
14
This is using knowledge in a practical way to accomplish a task.
Demand
Supply
Technology
15
What is it called when a country buys goods or services from another country?
imports
exports
barter
16
A period of slow economic growth or decline is called...
recession
scarcity
inflation
17
When a country takes part in some form of international trade it is called...
globalization
opportunity cost
command economy