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7 Written questions

6 Multiple choice questions

  1. Command and Free Market
  2. buying something less expensive to meet a need
  3. money paid to use someone elses money
  4. study of how we fulfill unlimited wants with limited resources
  5. Money and machines; Cost=interest
  6. people who make the product or are involved;
    cost=wage

6 True/False questions

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

          

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

          

  3. Micropersonal budget

          

  4. Opportunity Costnot being able to purchase what we want

          

  5. Macropersonal budget

          

  6. What are the Factors of Production?Natural Resources, Human Resources, Capital, and Enterpernuership