7 Written questions
6 Multiple choice questions
- Money and machines; Cost=interest
- Budget of U.S.
- buying something less expensive to meet a need
- personal budget
- Command and Free Market
- people who make the product or are involved;
6 True/False questions
What are the 4 economic questions? → Traditional, Command, Free Market, and Mixed
limited resources → money
Economics → not being able to purchase what we want
Interest → Budget of U.S.
What are the Factors of Production? → Natural Resources, Human Resources, Capital, and Enterpernuership
Profit → the difference between what it costs to make the item and what it is sold for