_________ is the study of the production, distribution, and consumption of goods and services.
24-25 Economics Unit 1 Final Exam Review

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Social Studies
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12th Grade
•
Hard
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24 questions
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1.
FLASHCARD QUESTION
Front
Back
Economics
2.
FLASHCARD QUESTION
Front
The main problem that economics wants to address is ________________, but __________________.
Back
limited resources, unlimited wants
3.
FLASHCARD QUESTION
Front
Land, labor, capital, and entrepreneurship are the
Back
factors of production
4.
FLASHCARD QUESTION
Front
____________ is an example of a land factor of production.
Back
water
5.
FLASHCARD QUESTION
Front
____________ is an example of a labor factor of production.
Back
human input
6.
FLASHCARD QUESTION
Front
____________ is an example of a capital factor of production.
Back
factory
7.
FLASHCARD QUESTION
Front
Gracie opens a new clothing store in downtown Decatur. This is an example of _______________.
Back
entrepreneurship
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