Economics Final Exam Review

Front

What is Economics?

Back

The study of how people manage scarce resources

Front

Who is the maker of goods?

Back

Producer

Front

Who is the maker of goods?

Back

Producer

Front

Who is the purchaser of goods?

Back

Consumer

Front

Which is NOT a factor of production? Land, Labor, Capital

Back

Economic benefit

Front

What is an interest rate?

Back

The percentage you pay on a loan.

Front

What is a simple definition of supply?

Back

Price increases - supply increase

Front

What is a simple definition of demand?

Back

Price increases means demand will decrease

Front

What is a monopoly?

Back

A business that does not allow competition.

Front

What is an owner of a share of company called?

Back

Stockholder