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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)
  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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