The study of how people satisfy wants and needs

Economics- Fundamentals Flashcards

1

A cell phone is an example of?

2

This type of economy focuses primarily on wants

3

Scarcity and Shortage mean the same thing.

4

Entrepreneurs do what before they start a new business?

5

What is not an example of a Good?

6

What are the three factors of production?

7

What is Economics?

8

What isn't an example of capital?

9

What is not an example of a service?

10

Check all those who can work with the factors of production

11

Water is an example of what?

12

What are the two types of capital?

13

Human capital is the

14

What are the two basic types of economies?

Economics- Fundamentals