Economic Concepts Flashcards

Economic Concepts Flashcards

Assessment

Flashcard

Business

9th Grade

Hard

Created by

Latanya Lawrence

FREE Resource

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38 questions

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1.

FLASHCARD QUESTION

Front

Economic Systems

Back

Describes how a country’s economy is organized

2.

FLASHCARD QUESTION

Front

Needs

Back

Basic necessities required for survival

3.

FLASHCARD QUESTION

Front

Wants

Back

Things that enhance comfort or satisfaction

4.

FLASHCARD QUESTION

Front

Factors of Production

Back

Land, Labor, Capital, Entrepreneurship

5.

FLASHCARD QUESTION

Front

Land

Back

Natural resources (e.g., metals for phones)

6.

FLASHCARD QUESTION

Front

Labor

Back

Human effort and skills (e.g., factory workers and engineers)

7.

FLASHCARD QUESTION

Front

Capital

Back

Machinery, tools, and buildings (e.g., production facilities)

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