Economics Final Exam Review Part 1 (3rd quarter)

Payment by a bank when you don't have the money

Why are all goods scarce?

risk that you will not be able to get your hands on your money when investing

What type of gov't controls all aspects of an economy?

Making money off of your interest

economy based on customs and habits

human resource that is used to create other goods and services

What's it called when a store runs out of bread when the weather gets bad?

The most desirable alternative to what you actually decide on is 

Which of the following is the least liquid?

Comes directly out of your account

Which has a higher interest rate?

When stocks significantly go down

Which of the following is NOT a factor of production

risk that a business will not return your money

Natural Resources that are used to produce goods and services

study of how people seek to satisfy needs and wants through their decisions

compound interest made  on an investment of $1000 that grows at 5% over two years

A person who takes a risk to earn a profit

Effort a person is paid for is 

Which of the following is always in existence?

What type of economy does America have?

Laissez Faire says

Payment for borrowing money

Investment into land or a house

share of ownership in a company