Economics Review

A new cellphone case would be an example of what?

Which of these people will be considered unemployed?

Which of these people have the highest rate of unemployment?

This is an economy where there is NO government.

The Tabasco company relies on machines to create its sauce. What Factor of Production is this?

Supply is high so demand will be ________ which is called a __________

A news agency reports that the CPI has risen. What does this mean?

The total amount of a specific good that is available for the consumer is buy is called what?

When supply is high and demand is low, prices will be _______

According to supply and demand, which of the following is true?

You are out shopping for the new iPhone 20 on Black Friday. You are an example of what?

Which of the following in NOT a reason why countries trade with one another?

Which economic system is used by the U.S.?

Sarah has to decide to stay home and nap or go visit her friends. This is an example of what?

What three countries are members of NAFTA?

What is the most common and popular economic indicator?

____________ means a person needs to know how to do their one job better than any one else.

Louisiana has several __________ to help make it a major trading state.

Ford must decide if humans or machines will make a car model. What question does this answer?

Dalton has decided to give up a chance to nap to go visit his friend. The nap is a ______.

Lockheed Martin sells its products to the U.S. military. What question does this answer?

This economy has no money system so it relies on bartering.

This economy is when the government controls everything

When demand is high and supply is low, prices will be ________