The Basics of Economics

Money that you receive or earn is called

Name this old-school cartoon character

Our desire to have the latest cell phone, even though it is not necessary is called

Things that cost the same every month are called

________ is money or assets used to start or maintain a business

In this type of economy, decisions are made based on long established patterns of behavior

If lots of people really want a product it is said to be in

A plan for raising and spending money is called

Who is this?

If the demand for a product is very high and supply is very low the price of the product will

In a ______ economy, the government controls all parts of the economy

Selling price - cost and expenses =

When it is difficult to find products because of high demand it is called

If you add up all of the goods and services sold in a country in a year you would have .....

What is the basketball nickname of this teacher?

Teachers, doctors, and lawyers don't make anything so they are part of the ___________ industry

A system for producing and distributing goods and services to satisfy people's needs is called

Any item which is widely accepted in payment for goods and services is called

When we buy stuff or use goods and services it is called

When individuals undertake economic activities with little government interference it is called

Things you give up when you buy or do something else are called

A person who studies money, spending, and investment is called a/an

The largest bill CURRENTLY being printed in the U.S. Is the

In the old days, when a person would trade chickens for corn, this was called

Whose back of the head is this?

What was the first thing that Ray Kroc sold?

When we have more than enough of a certain commodity it is called

Another name for paper money is

When we talk about how much of something is available it is called

Something that we need to survive is called a

Which of the following is NOT an example of a variable cost?