FUNdamentals of Economics

Which would be an example of physical capital?

Which factor of production includes education and training?

What is the term for the most desirable thing you gave up when you make a choice?

This is another term for a finished product

People start business for what main reason?

The study of the economies of whole countries is called what?

Which is NOT a factor of production?

Which market do workers exchange their labor for income from businesses?

What must be higher for a decision to be "rational?"

The study of individuals and their economic choices is called what?

What does scarcity cause us to have to make?

When you get paid for your job, this takes place in which “Market” in the circular flow chart?

Which is the number one investment that increases your productivity?

Which business provides a "service"?

What is the hamburger meat at McD's?

Which one would be an example of physical capital: ovens, sugar, coffee beans, and workers?

Which of the following would be a way for the curve to move out?

What graph shows us the highest number of a certain product that we could make?

What does point X represent?

What is the money called that goes to the Individual for working?

What is the term for all the other options you give up when you make a choice?

Which points represent efficiency?

Which factor of production includes the guy who flips the burgers at McDonald’s?

What is scarcity?

Which factor of production deals with anything that comes from nature?