7 Written questions
6 Multiple choice questions
- Traditional, Command, Free Market, and Mixed
- land, building, and materials that go into the production of the product; Cost=rent
- 1. What will I make?
2. How will I make it?
3. Who gets to buy it?
4. How am I going to distribute my item?
- Natural Resources, Human Resources, Capital, and Enterpernuership
- What you earn back.
- study of how we fulfill unlimited wants with limited resources
6 True/False questions
Entrepreneurship → money paid to use someone elses money
What is Mixed a mix of? → Command and Free Market
limited resources → money
Trade-Off → buying something less expensive to meet a need
Profit → personal budget
What are the 2 types of economics? → Natural Resources, Human Resources, Capital, and Enterpernuership