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7 Written Questions

6 Multiple Choice Questions

  1. cost of 1 item in terms of another item
  2. study of how we fulfill unlimited wants with limited resources
  3. Traditional, Command, Free Market, and Mixed
  4. not being able to purchase what we want
  5. 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?
  6. Command and Free Market

6 True/False Questions

  1. What are the 2 types of economics?Micro and Macro

          

  2. Trade-Offbuying something less expensive to meet a need

          

  3. Micropersonal budget

          

  4. Profit Marginthe difference between what it costs to make the item and what it is sold for

          

  5. limited resourcesmoney

          

  6. Profitpersonal budget

          

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