Econ Final Exam Review

Econ Final Exam Review

Assessment

Flashcard

Other

KG - University

Practice Problem

Hard

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Wayground Content

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35 questions

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1.

FLASHCARD QUESTION

Front

The highest valued alternative given up as a result of making a choice.

Back

Opportunity Cost

2.

FLASHCARD QUESTION

Front

The physical and mental efforts people use to create goods and services.

Back

Human Resources

3.

FLASHCARD QUESTION

Front

The buildings, tools, and machines people create and use to produce final goods and services.

Back

Capital Resources

4.

FLASHCARD QUESTION

Front

Unaltered gifts of nature like soil, minerals, timber, and fresh water.

Back

Natural Resources

5.

FLASHCARD QUESTION

Front

______ means that an inequality exists between wants and the resources available to satisfy them.

Back

Scarcity

6.

FLASHCARD QUESTION

Front

The study of the economy as a whole

Back

Macroeconomics

7.

FLASHCARD QUESTION

Front

The study of individual consumers and businesses

Back

Microeconomics

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