Unit 01 EXAM Review ECON

Job specialization in an economy:

Underutilization is when an economy uses ___ than its availble resources.

The best alternative when making a decision is:

The U.S. is a mixed economy that is more:

Incentives are a type of:

This business type generates the most money in the U.S.

A person who runs a company that hires plumbers to remodel and unclog toilets is:

People must decide what to do with their resources and goods because:

Entrepreneurs will make the most money in a:

Shelly's Bakery just purcahsed a new mixer to make larger batches of cookies. This is an example of:

The most common business type is:

For a Production Possibilities curve to shift right, there must be:

China is a mixed economy closer to:

Limited resources to meet limitless wants is the problem of:

An engineer's knowledge of how to use design software like CAD is an example of:

In a centrally planned economy, the government makes _____ economic decisions.