Econ Unit I

These are simply desires of citizens of a society?

What year did the stock market crash that led the USA into the Great Depression?

Economics can be defined as the study of how people in society allocate _______resources to people with_____wants/need

What does a corporation sell to raise $ for their business?

What President implemented regulations on the stock market?

The driving force that drives people is called?

I really like my bike but it cost too much so now I can't go to the movies. Example of what?

Tangible commodities are considered?

Worked performed for someone is considered?

This is a human skill in starting a business?

Example of a Command Economy?

This is the most popular investment?

In this type of economy system, the central authority makes the decisions?

The federal program in the US that supports those citizens that are retired and disabled?

A capital good is a good that?

GDP stands for?

____ are the basic requirements for survival in economic terms?

Any good that does not last for three years when used on a regular basis is called ______

Every choice involves costs, someone has to pay for it:

What is a Dividend?

Social Security, unemployment insurance, and workmans comp are called?

Gifts of nature, not man made?

You buy a Corvette to impress others:

Opportunity Cost can be defined as?

The type of economic system where people act in their own best interest?

Which of the following is not a requirement for a beginning Entrepreneur?

The process of creating goods and services is called______

Refers to increasing the production of goods and services?

This bond is really risky but can make you some $

A diagram that represents various combinations of goods and services an economy can produce?

This investment is used for the 401K Program which is diversified:

This is the largest stock exchange in United States?

Adam Smith wrote the ____________?

When you buy stock, you want to?

What is not true about sole proprietorship?

What is most true about partnerships?

Benefits offered to encourage people to take certain actions?

Which of the following is a scarce resource?

To Utilize less than fully or below the potential use:

Three basic questions of we ask in economics to produce are?

____ is the fundamental economic problem facing all societies. the problem is how to satisfy wants and needs.

_____ goods are goods that are intended to last longer than three years after production.

The innovators responsible for the changes in the economy because of taking a risk:

Diamonds are very expensive but not necessary for survival but water is necessary for survival but is less valuable.

Saudi Arabia raises oil prices and the gas prices rise in the USA?

A good that is intended for final use by a consumer?

Refers to the total satisfaction from a good or service?

What are the four types of economic decision makers?

The market economy tends to have what type of government?

This is what you collect after 20 years working for the railroad, in the military, or teacher?

The economic system in which private citizens own the factors of production?

Which of the following are the four factors of production?

Perform mental and physical work: