Principles Unit 4: Entre Economics

People are motivated to work to satisfy their wants and needs with goods produced by businesses

An economic system.....

Which statement best represents what the notes consider to be a "new approach" to business.

Economy where resources are controlled by the government: what is used, how used and for whom

Economic resources are:

Production provides __________ to raw materials.

Which statement accurately describes the relationship between entrepreneurship and economics?

Which is NOT a source of ideas that can lead to an entrepreneurial opportunity?

The science of examining how goods and services are produced, sold and used is called

Entrepreneurs satisfy______ and _______ with ________ and __________

Which of the following is provided by the use of an economic good or service?

The type of economy that is centered around meeting the basic needs of the members is called

Which of the following is NOT one of the four economic resources?

When goods and services are brought in to the United States from Japan, this is referred to as

Water is which of the following economic resources?

The four factors of production are the inputs needed for:

When goods and services are sold to foreign companies, this is referred to as

Factors of production are.

The demand curve represents who?

The supply curve is defined as

An IDEA can become an OPPORTUNITY when.

Which is the correct formula?

Someone who applies creative ideas to the way they do their work is..

Which of the following is NOT one of the fundamental economic questions

Equilibrium refers to