Home Library Explore SAT

Home Library Explore SAT

Economics-Basics Flashcards | StudBud

Explore/Economics-Basics

Which of the following is an example of 'land?'

A boy is injured. An ambulance is called, but there are none available, this is called _______.

Economics-Basics

8 terms·StudBud Administration·103 plays

Imported from external platform

Flashcards8 cardsFPractice quizPHost liveL

Questions 8

Answers

1
A boy is injured. An ambulance is called, but there are none available, this is called _______.
A tragedy
Scarcity
Opportunity Cost
Shortage
2
Which of the following is an example of 'land?'
Machinery
A factory
Trees
A construction worker
3
Which of the following is an example of 'capital?'
Farmer
Trees
Machinery in a factory
A construction worker
4
Which of the following is an example of 'labor?'
A factory building
A construction worker
Machinery
Trees
5
Which best describes the study of economics?
The study of how people make choices because of scarcity
Finance
Money
Stock Market
6
Which of the following is not an example of opportunity cost?
Working in the summer instead of swimming
Going to Disneyworld instead of buying a laptop
Buying Reese pieces and a butterfinger
Giving up soccer to run track
7
Which of the following is not a factor of production?
Land
Machinery
Capital
Labor
8
Thinking at the margin is __________
Thinking about resources
Choosing marginal marges
Considering shortages before making a decision
Analyzing cost and benefit to choose the best option