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ECON 1 Flashcards | StudBud

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ECON 1

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ECON- u1

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Questions 6

Answers

1
When there is simply not enough of something it is considered to be ....
small returns
Scarce
Shortage
Large returns
2
Your second choice is called.....
scarce resource
opportunity cost
human capitol
entrepreneurship
3
In economics there are ---- needs.
0
3
4
2
4
How many topics are to be included in the final project?
25
10
15
20
5
The Factors of Production can be remembered with this acronym.
C.E.L.L.
S.E.L.L.
C.R.B.
B.J.S.J.
6
The value of the second best choice for you is called...
Give up cost
Opportunity benefit
Opportunity cost
second choice