Econ - Unit 1

Which of the following would be an example of something in a Product Market?

Which factor of production is defined as: Human time, effort, and talent 

The condition in which resources are used to produce the maximum amount of goods and services

What is the fundamental question of economics?

In which type of system do clans or tribes make economic decisions based on customs and beliefs

Public schooling is most representative of what type of economy?

What would be a capital good used in the process of making bread?

›The cost of whatever was lost when a choice is made.

The combination of vision, skill, ingenuity,and willingness to take risks

Which factor of production is defined as: Physical resources and technology 

Something that is both limited and desirable is called:

On the PPC, what is a point to the left of the line called?

America has what type of economy?

Family-owned farms are most representative of what type of economy?

On the PPC, what is a point to the right of the line called?

Which of the following is an example of something found in the Resource Market?

North Korea is an example of what type of economy?

Which factor of production includes water, wildlife, and petroleum deposits?

A decision-making grid used to make an evaluation of economic choices?

A commercial shopping mall is most representative of what type of economy?

What is the term for something we would like to have but is not necessary for survival?