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Econ Final Exam Review

Econ Final Exam Review

Assessment

Flashcard

Social Studies

12th Grade

Practice Problem

Hard

Created by

Wayground Content

FREE Resource

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40 questions

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1.

FLASHCARD QUESTION

Front

Unlimited wants and limited resources

Back

Scarcity

2.

FLASHCARD QUESTION

Front

Possible options that we can choose from when we face scarcity: Trade-off, Sole Proprietorship, Structural Unemployment, Market Economy

Back

Trade-off

3.

FLASHCARD QUESTION

Front

A situation in which something needed cannot be obtained because of insufficient amounts

Back

Shortage

4.

FLASHCARD QUESTION

Front

The next best alternative given up when a choice is made

Back

opportunity cost

5.

FLASHCARD QUESTION

Front

land, labor, capital, entrepreneurship

Back

Factors of Production

6.

FLASHCARD QUESTION

Front

Gross Domestic Product, measured by economic growth

Back

GDP

7.

FLASHCARD QUESTION

Front

Consumer Price Index, measured by price stability

Back

CPI

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