Econ Final Review

What is a resource?

If the supply of an item is greater than its demand by consumers there will be a

Which one is NOT a factor of production?

Goods and services can be categorized into what 2 (two) types?

Never having all we want of a good or service

account used to buy stocks and bonds

How might the government try to slow down the growth of the economy?

This is the risk-taking resource.

In this type of economy the government has complete control of the factors of production

Which type of insurance can consumers purchase?

What impacts your credit score the most?

The number of items a consumer wants to purchase

Competition for goods and services creates this

When starting a new job, you complete this form to determine how much tax to withhold from your paycheck

What is economics?

Scarcity causes an item to:

an industry that handles cash, credit, and other financial transactions

In this type of economic system there is NO government involvement

What are the products that satisfy our needs and wants?

a place to buy, sell or trade shares of ownership in companies

The study of economic decisions that affect the economy of a nation

Who receives financial protection from a life insurance plan?

What is the credit score range?

What is the main reason people take the risk of starting a business

This economic system could have any proportion of the 4 economic system types:

Which one is NOT a credit reporting agency?

people and businesses who produce goods and services for consumers

The number of items ready for sale

credit unions are owned by its: