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Intro To Econ - Crash Course Flashcards | StudBud

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Intro To Econ - Crash Course

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Questions 12

Answers

1
What are the 2 branches of economics?
Money and people.
Microeconomics and macroeconomics
Bills and coins.
Choices and wealth.
2
Things that motivates you on how you spend your money are called..
Capital
Production
Tricks
Incentives
3
What is scarcity?
Time management.
The tension between infinite wants and the amount of resources available.
Being scared of something.
4
What IS NOT a main focus of economics?
The study of getting rich.
The study of forecasting the market or overall economy.
The study of money.
All of the above.
5
Who is the founder of the Crash Course economic series?
John Cena
John Adams
Brown
John Green
6
What is an example of scarcity ?
Sand in the dessert
AIr
pencils
Clothes
7
What is an example of economics?
An 18 yr old deciding to work or go to college.
The government deciding to increase or decrease budgets
All of the above.
Deciding if you want to read a book or watch Netflix
8
What is opportunity cost?
Whatever you give up to do something.
People's willingness to purchase something
The ability to hold or touch things you buy.
9
The study of _____ will help you understand how successful businesses operate.
Consumer
Economics
Supply
Demand
10
What is one assumption about economics?
Wrong again.
Not this one.
Everything has a cost.
Especially not this one.
11
Economics is the study of people and choices.
True
False
12
Most economists are macroeconomist.
True
False