Economics Final

Front

Scarcity means:

Back

Not enough of something you wanted

Front

Which is a need? Pop, Coffee, Water, Gatorade

Back

Water

Front

Air, shelter, and food are all examples of ______________

Back

needs

Front

A person that takes a risk by starting a new business (think CELL) someone like Mark Cuban of the Dallas Mavericks

Back

entrepreneur

Front

Generally speaking, the lower the price, the greater the quantity demand.

Back

True

Front

This type of business is owned by only one person

Back

sole proprietorship

Front

What is a mortgage (the last unit we studied) use your notes

Back

A bank loan for the purchase of a home.

Front

What is homeowners insurance? (again, the unit we just studied)

Back

Coverage against damages to the house or possessions in the home.

Front

This type of insurance provides money to pay for health care

Back

health

Front

This type of insurance provides payment for liability and property insurance on a vehicle.

Back

automobile