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Economics Review Flashcards | StudBud
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Economics Review
Economics Review
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Questions
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Answers
1
Mrs. Remus was so excited to get to school one day,she drove too fast and got a speeding ticket.This is which incentive?
Negative Incentive
Positive Incentive
2
People who buy goods or services
Need
Incentive
Consumer
Producer
3
Fill in the blank about supply and demand
HIGH
LOW
4
A fee or a fine would be an example of a...
Want
Scarcity
Positive Incentive
Negative Incentive
5
What you give up in order to have something else
Incentive
Opportunity cost
Want
Producer
6
People who make goods or provide services
Captial Resource
Consumer
Producer
Natural Resource
7
Mrs. Yost was so intersted in her book she forgot to return it to the library and got a fine. This is what incentive?
Positive Incentive
Negative Incentive
8
Mrs. Murphy went to the bookstore and saw that they were having a Buy One, Get One Free sale! This is what incentive?
Positive Incentive
Negative Incentive
9
When there is not enough of a good or service for eveyrone
Need
Want
Opportunity cost
Scarcity
10
In a resturant the fruits, vegetables, and meats would be what type of resource?
Natual Resource
None
Capital Resource
Human Resource
11
Choose the opportunity cost below
Roller Blades
Skateboard
12
In a resturant the stoves, ovens, pots and spoons would be what type of resource?
Natual Resource
Capital Resource
None
Human Resource
13
Fill in the blank about supply and demand
LOW
HIGH
14
Choose the opportunity cost below
Germany
Japan
15
My mom made us buy a different brand of chips because she had a coupon. This is an example of which incentive?
Positive Incentive
Negative Incentive
16
A sale or coupon would be an example of a ...
Negative Incentive
Want
Scarcity
Positive Incentive
17
Fill in the blank about supply and demand
LOW
HIGH
18
Water, food, shelter, or clothing are examples of...
Need
Opportunity cost
Positive Incentive
Service
19
An activity we pay someone else to do for us
Good
Want
Need
Service
20
In a resturant the cooks, waiters, and dishwashers are what type of resource?
Human Resource
None
Natual Resource
Capital Resource
