Economics Kahoot
Looking at the second point from the left how many bran muffins and loaves of bread are being made?*pretend there is a graph:)*
35 Bran Muffins and 10 Loaves of Bread.
Hammers, Bulldozer, and post digger are all examples of which type of resources?
Capital.
___________ resources are the things that people use to make the good or provide their services.
Capital.
Which of the following are examples of services?
Firemen, police, officers, and soldiers.
_________ are things that people make or use to satisfy their needs and wants.
Goods.
What is scarcity?
Having too few or too little of resources.
To what part of an industry does a worker's education contribute?
Human Capital.
_______ resources are people working to produce goods or provide services.
Human.
What term refers to a good that comes into a country?
Import.
Above the line is?
Impossible.
What is the difference between a shortage and scarcity?
A shortage can be temporary or long-term, but scarcity always exists.
Which of the following are examples of goods?
Apples, Computers, and Clothing.
________ are people who use services or buy goods
Consumers.
Which factor of production combines the other factors of production and vision to create a new good or service?
Entrepreneur.
A good made in the United States and sent to other countries.
Export.
The four factors of production are?
Land, Labor, Capital, and Entrepreneur.
Macro or Micro: A nation prints more money causing a rise in inflation?
Macroeconomics.
Means to study the whole economy or the bigger picture?
Macroeconomics.
To economize is too?
Make decisions according to the best combination of costs and benefits.
Points on the line are?
Maximum Efficient.
________ resources are materials that come from nature.
Natural.
Basic things humans need to survive.
Need.
The good or service that you give up when you make an economic choice is called __________.
Opportunity cost.
Which choice best describes the economic problem of scarcity in the world?
People have unlimited wants but there is a limited amount of resources.
_______ are people who use resources to make goods or provide a service.
Producers.
The term used when there is not enough of something to go around is:
Scarcity.
If a resource is scarce
Unlimited wants in a world of limited resources.
The points under the line are:
Underutilized.
When making a trade-off, a consumer?
Usually gives up some or all of one thing to get more of another.
Which of the following is not one of the three basic question economists try to solve?
WHEN should it be produced. (They answer what, whom, and how).
