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Economics Basics Flashcards | StudBud
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Economics Basics
Economics Basics
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StudBud Administration
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4 plays
Chapter 1.1
Flashcards
8 cards
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Practice quiz
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Host live
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Questions
8
Answers
1
the limited nature of resources is called
scarf city
society
scarcely
scarcity
2
Which is not a category of economic resources?
Capital
Natural
Supernatural
Human
3
An example of labour would be
entrepreneurship
risk-taking
factory work
inventiveness
4
Does Bill Gates experience scarcity in his life?
No
Yes
5
weighing the benefits and costs of actions is called
relatable behaviour
risky behaviour
rational behaviour
rebellious behaviour
6
Who said, "There is enough for the needy, but not for the greedy"?
Martin Luther King, Jr.
Jesus of Nazareth
Mohandas K. Gandhi
Mother Teresa
7
The economic problem can be summarized:
unlimited wants, limited supply
unlimited wants, unlimited supply
limited wants, unlimited supply
limited wants, limited supply
8
Economics is about
making the grade
making pizza
making money
making choices
