economics 1

The actual people that work are known as ________________ capital.

sacrificing something to gain something is known as a

peoples wants and needs are:

GDP stands for

All resources are limited and therefore are:

In a _________________ economy the government controls all decisions and resources.

Which is NOT a factor of production?

buying a new machine to improve productivity is known as  "investing in:

if supply is greater than demand there will be a:

Basics you need to survive are:

There are ______ driving questions of economics that all sociaties must answer:

The type of economic system where consumers and producers make decisions

The next best option that you give up in a decision is the:

Profit = Total Revenue - Total Cost

In a monopoly there are how many sellers in the market?

An embargo with a country means we send extra supplies to them

<p>Employee training is known as:</p>

GDP is an economic indicator.

GDP is calculated by week.

sacrificing something to gain something is known as a

Total Revenue is profit*quantity

Most economic systems are a _____________________ economy.

supply and demand are equal at:

The quantity that a consumer is willing and able to purchase at a given price:

There are __________ main types of economies.