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What is Econmics? Flashcards | StudBud

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What is Econmics?

8 terms·StudBud Administration·167 plays

A pop #quiz to test your knowledge of the basics of economics!

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Questions 8

Answers

1
Which is a factor of production?
scarcity
needs
labor
wants
2
resources that are limited
scarce
need
goods
want
3
why do we study economics?
because Mr. Hall wants to torture you
to have good information as consumers
to study money
to end scarcity
4
which is a want?
clothes
a place to live
food
smartphone
5
Capital is...
goods and services
limited resources
all natural resources used to produce goods & services
anything used to produce other goods & services
6
Because resources are scarce this requires people to have to
attain wealth
choose abundance over scarcity
make choices to cope with scarcity
use their infinite resources
7
Economics is the...
study of the earth and people throughout time and space.
study of how resources satisfy wants & needs
the study of money
history of the stock market
8
which is a need?
education
car
smartphone
food