which is an example of a trade-off?

going into the work force instead of going to college

what 3 basic questions about the use of resources do countries ask themselves?

what to produce?, how to produce?, for whom to produce?

what are the 4 categories of goods?

durable, nondurable, capital, consumers

what are the three responsibilities of consumers?

keep copies of paperwork, report problems, be reasonable

what are the 4 factors of production?

land, capital, labor, entrepreneurs

what are the 5 rights of a consumer?

safety, being informed, having choices, a voice, redress

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Unit 1 baby: What is Economics???? (with mamma mia)

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Questions 14

Answers

1
which is an example of a trade-off?
butter and margarine
going into the work force instead of going to college
going to walmart
peanut butter and jelly
2
what did adam smith write?
The Birth of a Nation
The Wealth of Nations
How to Train Your Dragon 3
Beans: They're Cool
3
what 3 basic questions about the use of resources do countries ask themselves?
this kahoot is bad but im losin interest and my fingers hurt
was freddie mercury gay? was franklin pierce gay?
how to make pie?, what to make pie?, whom makes pie?
what to produce?, how to produce?, for whom to produce?
4
what are the 4 categories of goods?
wealth, magic, trees, flowers
hatracks, chocolate, magic, beans
durable, nondurable, capital, consumers
magic, durable, capital, fish
5
what are the three responsibilities of consumers?
keep copies of paperwork, report problems, be reasonable
steel, copper, and capital
buy things, sell things, go bankrupt
value, wealth, and citizenship
6
are services considered wealth?
nah man
idk
yes
yes
7
what allows people to have free choice to do what is best for themselves?
abe lincoln
the invisible hand
magic acorn
the invisible handsaw
8
which choice is one of the 6 components of economic growth?
price
specialization
equilibrium
demand
9
what is a resource?
something you need
something you think you need
something you don't need
somethin that you think u need to know but it not on test
10
what are the 4 factors of production?
your mom, your dad, anne frank, charles de gualle
form whom, what, how, why
land, capital, labor, entrepreneurs
life, liberty, the pursuit of happiness, money
11
statistics or fake news??: supply = direct correlation; demand = inverse correlation
fake news
statistics
12
what illustrates all possible combinations of economic output?
production possibilities curve
pickles aren't real; look at their jars!!!!!
demand curve
production possibilities pickles
13
what is something that could be tangible or intangible for consumer use?
venus
beef
good
service
14
what are the 5 rights of a consumer?
safety, being informed, having choices, a voice, redress
opportunity costs
copies of paperwork, report problems, be reasonable
red, orange, yellow, green, blue, indigo, violet

Unit 1 baby: What is Economics???? (with mamma mia) Flashcards | StudBud