Eco class of 2021 Unit 1

1 of the 6 eco goals of the US is economic _ or, fairness and justice

Who investigates stock market fraud such as insider trading?

_ _ are a simplified representation of the real world used for analytical study

Economists build economic models to help _ the way the world works

_ are tangible items that people buy.

The fastest legal way to make money is the _ _

According to _ _ gov should not interfere with the market place.

The value of the next best alternative that has to be given up for an action is known as the

Land, labor, capital, entrepreneurship and technology are collectively known as the

_ is the economic system in which decisions are based on customs and beliefs

A major characteristic of a pure market economy is the amount of _ for the consumer.

In a _ system economic decisions are made by the government.

A _ is the eco system that combines features of market and command economies

_ is the work people do

_ are those activities done in return for a fee.

Adam Smith's "invisible hand theory" refers to role of _ _ in the market place works.

A company's office building is an example of a _ _

_ is the study of how a society uses their limited resources to meet their unlimited wants

_ _ _ is the material well-being of an individual or family.

_ is a situation in which people don't have enough resources to satisfy their needs

_ is the ability of individuals to start new businesses, introduce new products and profit

Another term for a capitalist system is

_ is the amount of output that results from a given level of inputs.

It is easier to start a business in a _ _ economy.

_ _ is the desire to make money that motivates people to produce and sell G & S.