SOL CE11a

what are the factors of production that are used to create goods and services called?

Mark didn't buy a shirt until it went on sale.  What was his incentive to buy the shirt?

When supply is high and demand is low, the price of an item will be--

Trees are an example of what type of resource?

Ally works after school Mon. and Tues.  What is the opportunity cost of adding Wed. and Thurs.?

What does the interaction between supply and demand decide?

Seth can go to the beach, or mow lawns for $.  He goes to the beach.  What's the opp. cost?

What is consumption?

A bulldozer is an example of what type of resource?

What you give up when you choose one thing over another is called--

Which economic factor has likely determined the price in this picture?

A discount is a form of-

Which statement best describes the relationship between supply and demand?

All of the following are considered types of resources EXCEPT--

Jay could get a job or go to college.  What is the opportunity cost if he goes to college?

If supply is low and demand is high, the price of an item will be--

scarcity refers to--

What is supply?

Which of the following is an effect of scarcity?

Carlos can see a movie or buy a game.  He sees a movie.  What is the opportunity cost?

What is the amount of goods or services available to the customers?

What is the amount of goods and services consumers are willing to buy at a certain price?