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Basics of Economics Flashcards | StudBud
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Basics of Economics
Basics of Economics
8 terms
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StudBud Administration
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10 plays
Study game for Economics Review
Flashcards
8 cards
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Practice quiz
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Questions
8
Answers
1
If bananas are scare, then _____________
the stores have too many bananas
the demand for bananas is low
the supply of bananas is high
the supply of bananas is low
2
______ are products shipped from the United States to other countries around the world.
needs
services
exports
imports
3
Joe was making a choice between a bat and a ball. He chose to buy the bat. The ball was his ___
benefit
opportunity cost
choice
scarcity
4
Consumers ____________
are people who live in neighborhoods
use and pay for goods and services
make or grow goods and sell services
want to grow goods and sell services
5
A ____________ is a capital resource.
trees
police officer
cotton
sewing machine
6
_________ is an example of a natural resource.
cotton
police officer
computer
sewing machine
7
Producers _______
use and pay for goods and services
make or grow goods and sell services
are people who live in neighborhoods
want to grow goods and sell services
8
The government uses money collected called ________ to pay for schools, libraries, and roads.
taxes
scarcity
income
interest