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7 Written questions

6 Multiple choice questions

  1. Command and Free Market
  2. land, building, and materials that go into the production of the product; Cost=rent
  3. person who puts together the first three factors of production (owns business)
    Cost=profit
  4. not being able to purchase what we want
  5. study of how we fulfill unlimited wants with limited resources
  6. money

6 True/False questions

  1. What are the 2 types of economics?Natural Resources, Human Resources, Capital, and Enterpernuership

          

  2. CapitalMoney and machines; Cost=interest

          

  3. What are the 4 economic systems?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?

          

  4. Opportunity Costmoney paid to use someone elses money

          

  5. Profit MarginWhat you earn back.

          

  6. Interestpersonal budget

          

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