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- Multiple ChoicePlease save your changes before editing any questions.
Which of these examples is a service?
Mr. Farr sells guitars.
Mr. Swenson gives art supplies to consumers.
Coach provides lessons for different sports.
Ms. Miller writes books.
- Multiple ChoicePlease save your changes before editing any questions.
Jenny has hundreds of stuffed animals to sell. The stuffed animals are considered the _________.
supply
demand
buyer
seller
- Multiple ChoicePlease save your changes before editing any questions.
What is profit?
the money you have left over after you paid your bills
how many people want your good/service
the amount of an item you have
none of these
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following will increase your profit for selling hot chocolate?
Use expensive materials
Lower the price
Give each buyer more hot chocolate
Use cheaper materials
- Multiple ChoicePlease save your changes before editing any questions.Economic system where government controls everything.MarketCommandMixedFree Enterprise
- Multiple ChoicePlease save your changes before editing any questions.Type of Economy that is half command and half marketTraditionalCommandMarketMixed
- Multiple ChoicePlease save your changes before editing any questions.Type of economic system where there is no government control.MixedMarketFree EnterpriseCommand
- Multiple ChoicePlease save your changes before editing any questions.I have a problem with having enough resources. What basic question of economics solves this?What to produce?How to produce?When to produce?For whom to produce?
- Multiple ChoicePlease save your changes before editing any questions.If there are only 100 televisions on sale and 200 people want to buy TV's, that is a problem of ____.desiredemandsupplyscarcity
- Multiple ChoicePlease save your changes before editing any questions.Economics seeks the answer to the basic question of how to deal with ______.moneyhungerdemandscarcity
- Multiple ChoicePlease save your changes before editing any questions.
Which of the following is the factors of prodution
Scarcity
Choice
Opportunity cost
Natural resources
- Multiple ChoicePlease save your changes before editing any questions.
What is given up when a choice is made
Scarcity
choice
opportunity cost
resources
- Multiple ChoicePlease save your changes before editing any questions.
Selecting an item or action
Scarcity
choice
opportunity cost
resources
- Multiple ChoicePlease save your changes before editing any questions.
Amount of money exchanged for a good or service
price
incentive
consumption
production
- Multiple ChoicePlease save your changes before editing any questions.
What is the total amount of a good or service available for purchase?
Producer
Consumer
Demand
Supply
- Multiple ChoicePlease save your changes before editing any questions.
What do you call someone who makes or provides a good or service for purchase?
Producer
Consumer
Demand
Supply
- Multiple ChoicePlease save your changes before editing any questions.
The combining of human, natural, capital, and entrepreneurship resources to make goods or provide services
consumption
production
distribution
resources
- Multiple ChoicePlease save your changes before editing any questions.
Oil, natural gas, and coal
human resources
natural resources
entrepreneurship
capital resources
- Multiple ChoicePlease save your changes before editing any questions.
Construction worker, doctor, nurse, and teacher
capital resources
entrepreneurship
human resources
natural resources
- Multiple ChoicePlease save your changes before editing any questions.Someone that takes risks and opens his or her own business.BuyerCapital GoodConsumerEntrepreneur
- Multiple ChoicePlease save your changes before editing any questions.
Economics seeks the answer to the basic question of how to deal with ______.
money
hunger
demand
scarcity