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6 Written questions

6 Multiple choice questions

  1. gross domestic product(inside the U.S.) that should increase 2% or 4% a year
  2. the study of how people make choices on how to best use their limited resources to best satisfy their needs and wants
  3. same factors to produce goods, such as land, labor, capitol and entrepreneurship
  4. contains opinion
  5. food, clothing, shoes, cars, and houses
  6. every decision we make has a cost and most desirable alternative given up as the result of a decision

6 True/False questions

  1. commoditya lack of wants

          

  2. macroeconomicsdeals with economics on a national and international scale and factors such GDP, employment issues, inflation, and politics(all compared)

          

  3. society trade offscountries and government must consider and deal with trade offs in order to provide health care. a country may not be able to support the military

          

  4. microeconomicsdeals with economics on a personal level and deals with individual households and businesses.(how a business maximized it's profits for ex.)

          

  5. positive economicsis about facts

          

  6. shortagethe price of a good service is too low and at the lower price too many want to buy.

          

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