Unit 1 Basics of Economics

What is the opportunity cost of you getting out of bed this morning?

What is the opportunity cost of going from 0 to 6 Wheat?

what factor of production is a road or factory building?

The study of the economy the way things are is called:

The way a society uses its resources to satisfy people's wants is called:

what factor of production is a road or factory built on top of?

something offered to get people to act in a certain way is called:

If you start your own business, what factor of production is that?

What is economics the study of?

I think College expenses should be paid by the government

Large scale factors like GDP and inflation would be studied by:

what factor of production is you working at Subway?

How do individuals make choices?

The benefit or satisfaction one receives from the use of a good is called:

What is the purpose of a PPC?

A trade where both sides anticipate gains is called:

Which factor of production would a car be?

Which of the following is NOT one of the 6 principles of economics?

If i trade a Mtn Dew for a bag of Doritos, what best explains this?

Which of the following would be an example of a service?

What is the basic economic problem?

What is the economic definition of scarcity?

The value of the next best option in a decision is called:

You will continue using a good as long as:

If a really good song is played too often, what happens?

Which of the following is NOT an assumption of a PPC?

What determines the value of a good?