Duplicate of Economics Unit 1 Review

Which is NOT part of the government's role in the American economy?

True or false? China is a communist society.

Conserving and protecting fresh water sources is important because . . .

Using state owned and provided resources to produce goods is characteristic of . . .

Individuals owning private property is characteristic of . . .

Theresa started her own pet store because she loves animals. This is characteristic of . . .

Economics is . . .

All natural resources are classified as . . .

The struggle among sellers to attract consumers

The American economy can be best described as . . .

Work that is performed for someone else for pay

Which of the following is a NEED?

Frank is going to be a garbage man because government says so. This is characteristic of . . .

A good intended to last 3 or more years

Using resources to complete a task quickly and without waste is . . .

The economist who wrote about CAPITALISM

Which of the following is a service?

Working hard because you want to make more money

Holds the power in the American free enterprise economy

When buyers and sellers freely and willingly engage in transactions we have . . .

Juan is going to be a carpenter because his dad is a carpenter. This is characteristic of . . .

Is credited with the idea of a communist society

Man made tools, equipment and factories used to produce other goods and services

All the alternatives given up when one makes a final decision