Unit One Economics ( half-way done!)

2 Chainz rides up to the scene with his ceiling missing because:

Choosing between points a and b, which shows more guns being produced?

A sewing machine is an example of labor

The classic example of how an economy spends it's resources is demonstrated by the 

Scarcity exists because

Which points show maximum production?

As your teacher, I endeavor to increase your human capital.

If you can't afford the Pandora bracelet you want to get your Mom for Christmas: ____

Ways to deal with scarcity include:

Which point is impossible?

Which point is underutilization?

Entrepreneurship is a factor of production

Choosing between points a and b, which shows more butter being produced?

Choosing at the margin means:

Businesses, individuals, countries, and all organizations deal with scarcity

Are there 4 or 3 factors of production?

When short sighted producers underestimate the demand for a product, and there aren't enough.

Only individuals deal with scarcity

The skills, knowledge, and experience a person has is considered labor.

The Science of how and why we make the choices we do.