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SSEF1 economics Flashcards | StudBud

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Entrepreneurship is?

What are the factors of production?

SSEF1 economics

8 terms·StudBud Administration·287 plays

SSEF1 The student will explain why limited productive resources and unlimited wants result in scarcity, opportunity cost and tradeoffs.

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Questions 8

Answers

1
What are the factors of production?
All of the above
Labor
Land
Capitol
2
Entrepreneurship is?
Risking your all to scam of Instagram.
When your willing to risk your all on a business
Taking risks
Eating skittles
3
What would you describe capital as?
Eating goods and items
Selling goods and items
Buying goods and items
Making goods or items
4
What factor of production do you have the most access to?
cattel
land
food
water
5
What are some stratagies for allocating scarce resources?
All of the above
Rationing
Raising wadges and taxes
Raising and deregulating
6
Scarcity occurs when?
The President has an affair
The government runs out of money
Capital goods run out
Unlimited wants exceed limited productive resources
7
When does rational decisions occur?
Marginal cost are equal to marginal benifits
rationing occurs
tradeoffs occur over and over
scarcity takes over
8
Public goods and services would be
Parks,libary
all of the above
shopping malls
Schools