1/2 day quiz supply & demand

A new cookie-making machine is an example of _____.

Supply and demand are the main determinant of the price of a product

what is the difference between human capital and physical capital?

A building company decides to build one more apartment complex because of the cities population

Why do we have scarcity?

What is a wealth gap?

A sewing machine is an example of which factor of production?

How do you define economics?

Individuals who organize, own, and run their own business are called

The government regulates work conditions but people make whatever products they want to sell

Which concept did the "free suit" video show

Which of the following is NOT a factor of production?

What is equilibrium in economics?

Economic system where people usually do the same jobs as their parents did

Why does Snively Whiplash clean up the lake after he had been polluting it for a year?

What is a stock?

Privately owned factors of production (factories, machines)

Your mom says she will take away your phone if you break curfew. This is a ___.

The marshmallow experiment shows the benefits of _________.

Moving to a bigger apartment, but having to pay more in rent is an example of a ______>

In a free market, what determines the price of a product

When there is a shortage of a product, what happens to the price?

Which is an example of a positive incentive a business might use?

Your teacher says that the student with the best test score will get a prize. This is a _____.

Which of the following is an example of scarcity?

Deciding to take a coding class after school is an example of how to increase_____.

The most desirable outcome that you give up when you make a decision is the _______.

the 3 questions each economy has to ask itself

Government directly influences and vastly controls business

During the Pearl Market lesson, what were the diamonds considered?

What is the best definition of an externality?