Economics Basics

The rate or meausre of how fast one can produce something

Which of the 4 factors of production does this represent?

Walmart runs out of PS4s but will get more tomorrow. This is an example of...

Which factor?

unlimited wants with limited resources is called...

Things you would like to have are called...

When quantity demanded is greater than quantity supplied?

If a machine speeds up harvest time for corn which of the following will occur?

Which factor of production?

Everything combined to produce a product is referred to as...

Study of how people fulfill their wants and needs

Which factor?

Susan's income goes down 12 % which of the following will most likely occur?