Basics of Economics

Which form of government creates higher taxes but gives people their basic needs?

Which economic system creates lower quality goods that are all the same (even wealth)?

What is the term for a good used to produce another (oven in a bake shop)?

What is the term that describes the fact that in every decision you must give one thing up?

What is the term for a way of expressing a need?

Teachers, doctor, painter, electricians, and cooks are all...

What is the term for a good that lasts longer than three years?

Which form of goverment involves a free market, private ownership, and minor gov. regulation?

What is the term for a final product that is purchased by someone?

What is a natural resource that grows in our environment?

What is the term for the benefit of the second best option we give up?

Which of the following is a service?

What is the fundamental problem we all face in society?

Which of the following is NOT a basic need?