Basic Economics

Credit cards are dangerous and carry a lot of risk

Resources are limited but wants are unlimited =

The work that people do

What is the most common economic system?

Natural Resources

What is the purpose of a credit score?

Which of the following is a benefit of owning a credit card?

When someone is really good at one job they ________ at that job?

When Supply goes up what happens to price?

I have to make a choice of how to spend my money, The thing I do not pick is called the

Why do you work?

If you worked at a car factory you would be a

The knowledge and skills people use to produce a good or service

The US economy is

People who start a business

Prices in a free market are largely determined by

If Supply goes down, what will happen to the prices?

The tools (tools, money, buildings) that people use to produce goods and services

Economists study trade offs, every trade off is a(n):

When someone does NOT have a job, they are_______

Do all economic systems rely on money?

Why can't a business make prices really high for their items?

When you go to buy a car you are a

Consumers willingly trade their money for the goods and services they want or need is known as-

Do checks ever expire?

Free enterprise involves no government regulation

Limited Government =

Legal designation for the ownership of property by non-governmental entities is

Gold has a higher monetary value than water because:

If Demand goes down, what will happen to the price?

If Demand goes up, what will happen to the price?

An example of a land (natural resource) is