Missouri Economics

Question 1

What does supply mean?

Accepted Answer

the total amount of goods or services available to buy

Question 2

Forests, land, water, and minerals are natural resources.

Accepted Answer

true

Question 3

A police station is a ________ good.

Accepted Answer

public

Question 4

The workforce is a human resource

Accepted Answer

true

Question 5

A hamburger is a _________ good.

Accepted Answer

private

Question 6

Tools, equipment, machinery, and buildings are capital resources.

Accepted Answer

true

Question 7

Materials from nature that are used to produce goods and services are capital resources.

Accepted Answer

false

Question 8

What does demand mean?

Accepted Answer

the total amount of goods and services that people will buy

Question 9

Which of the following are true about the economy?

Accepted Answer

In the US we have a free-market economy., Economy's the way a country manages its money and resources.

Question 10

When the supply is LOW and the demand is HIGH, the price will go

Accepted Answer

up

Question 11

Cowboy boots are a _______ good.

Accepted Answer

private

Question 12

Human resources are the people involved in the production of goods and services

Accepted Answer

true

Question 13

When the supply is HIGH and the demand is LOW, the price will go

Accepted Answer

down

Questions 13