7 Written questions
6 Multiple choice questions
- What you earn back.
- people who make the product or are involved;
- 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?
- Micro and Macro
- not being able to purchase what we want
6 True/False questions
Entrepreneurship → person who puts together the first three factors of production (owns business)
Opportunity Cost → cost of 1 item in terms of another item
What are the Factors of Production? → Micro and Macro
Capital → not being able to purchase what we want
What is Mixed a mix of? → Command and Free Market
Economics → study of how we fulfill unlimited wants with limited resources