Unit 2.01 and .02 Review

Netflix is an example of a

Which of the following describes inelastic demand

Using a stream to supply water for crops is an example of using

Which of the following is a characteristic of economic services

Benefits shows CSR to

Best buy is an example of a

Seeing a movie at a theater would be considered a(n) ______ want

Mr. Phillips is from

How much a consumer is willing to pay for a product depends partly on their opinion of this

A gap between unlimited wants and limited resources creates

Who gets the goods and services produced in our economy

Which of the following situations involves finding another source of a limited natural resource

When demand is great than supply a _____ often develops

Which of the following is a factor affecting a product's utility to the individual customer

How would a business's computers be classified?

The heart of economics is

What are the incentives in our economy that encourage producers to change and reallocate their resources

Excess demand and excess supply cause changes in

Creating a fundraiser for a natural disaster is showing CSR to the

CSR means

Coach Phillips went to_________for college

If a good or service is scarce, consumers will usually be

What do producers often do when supply is greater than demand

Sugar and flour that are purchased to make baked goods are classified as

Marcy is ready to buy a new computer and she has saved up enough money to buy the model she wants. Example of

For consumption to occur, goods and services must be

Any factor that causes changes in supply and demand will cause changes in

A company that transforms cotton into wearable clothing is considered a

An economic good or service that is scare is one that is

Cash register tapes and shipping forms used by a business would be classified as industrial

The ultimate goal of all economic activity is

What exists when producers produce more than buyers are willing and able to buy

Which of the following economic resources helps people be more productive

What is Mr. Phillips favorite baseball team?

When a stove is used in a restaurant kitchen, it is a

Which of the following is a characteristic of a seller's market

When producers use the best combo of resources, consumers are most likely to get goods and service that

What is the amount of money for which an items sells in a marketplace?

Which of the following is an example of an economic want

What is the highest degree Coach Phillips has

Consumers are typically most willing to pay more for goods and services that bring them greater

Which of the following is an industrial good

How are prices used in our economy

Economic "votes" are cast by consumers each time they

Marc wants to figure out how much changes in price will affect his business sales, so he pays attention to

Weather conditions can most directly affect the supply of

Businesses can show their CSR by contributing to

The heart of economics is

A characteristic of human wants is that they are

Two factors involved in determining the value of a resource, good, or service are