Clunk and Weaver's Economics part 1

Question 1

Raw materials come from _____. (Choose the best answer.)

Accepted Answer

natural resources

Question 2

If there are few items of the same thing, the cost ______.

Accepted Answer

goes up, increases

Question 3

_____ is the study of goods and services and how they are made and sold.

Accepted Answer

Economics

Question 4

If the demand is low, the cost _____.

Accepted Answer

decreases

Question 5

If there are too many apples to be sold, the cost ______.

Accepted Answer

goes down

Question 6

An entrepreneur_________.

Accepted Answer

owns a business, pays wages to employees

Question 7

Learning about economics is ______.

Accepted Answer

helpful, fun, important

Question 8

If I baked cookies and no one wanted to buy them, I will probably _______.

Accepted Answer

lower the cost

Question 9

How much of a good or service people want is the _____.

Accepted Answer

demand

Question 10

A building is a type of __________ resource.

Accepted Answer

capital

Question 11

A hammer is a type of ______ resource.

Accepted Answer

capital

Question 12

Three productive resources are _____.

Accepted Answer

natural, human and capital

Question 13

An example of a human resource is ____.

Accepted Answer

all of the above

Question 14

The amount of a good or a service is the ___.

Accepted Answer

supply

Question 15

resources to make goods and services

Accepted Answer

productive resources

Questions 15