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Economics Basics Flashcards | StudBud

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Economics Basics

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Basic economics - needs and wants, markets, economic resources

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Questions 10

Answers

1
Capital resources include
Cash register, store fittings, stock
All of the above
Vehicles, buildings, computers
Tractors, sheds, irrigation system
2
In economics, needs and wants are
unlimited
never-ending
limited
exchanged
3
Two types of labour include
Physical and intellectual
Physical and emotional
None of the above
Physical and spiritual
4
The economic problem with chocolate is
Cocoa farmers pay award wages to their staff
Chocolate is yummy
The retail price is too low for the farmers to benefit
The retail price is too high for consumers to buy it
5
Land resources include
human effort, machinery, inventions
solar energy, natural gas and coal
solar energy, coal and machinery
coal, natural gas and human effort
6
In economics, money is referred to as
a mens of exchange
a means of echange
$$$$$
a means of exchange
7
A sign on a front fence: 'Kittens - free to good home.' This is an example of
None of the above.
A market.
A means of exchange.
Bitcoin.
8
An example of an enterprise resource is
A school Principal
Both A and B
Neither A nor B
A manager
9
In economics, a market includes
a supermarket
eBay
a Sunday market with stalls
all of the above
10
Economics and business
Are intertwined
Are different
Are the same
Are insane