
Vocab. #1 Review
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
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17 questions
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1.
FLASHCARD QUESTION
Front
Motivates a behavior
Back
Incentive
2.
FLASHCARD QUESTION
Front
Not enough resources to meet all needs and wants
Back
Scarcity
3.
FLASHCARD QUESTION
Front
Purchasing goods today for future profit
Back
Investment
4.
FLASHCARD QUESTION
Front
Graph of goods combinations an economy can produce with its resources and technology
Back
Production Possibilities Frontier
5.
FLASHCARD QUESTION
Front
Value of the choice you give up; the next best alternative
Back
Opportunity Cost
6.
FLASHCARD QUESTION
Front
Discourages a behavior
Back
Disincentive
7.
FLASHCARD QUESTION
Front
Land, Labor, Capital, Entrepreneurial Ability
Back
Factors of Production
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