An Introduction to Economics

Front

What is Economics? Fill in the blank: Economics is the study of how people make and spend money by ______ and ______ goods and services.

Back

buying; selling

Front

What are Goods? Fill in the blank: Goods are the actual ______ that people buy and sell.

Back

products

Front

What is a Service? Fill in the blank: A Service is an ______ or ______ that someone provides to help someone.

Back

action; work

Front

Which of the following is an example of a good?
- Dentist caring for teeth
- Taxi driver taking you somewhere
- An iPod
- Teacher teaching you what you need to know

Back

An iPod

Front

What are productive resources? Fill in the blank: Productive resources are the resources that are needed to provide ______ and ______.

Back

goods; services

Front

Which of the following is NOT a type of productive resource? Natural Resources, Human Resources, Capital Resources, Financial Resources

Back

Financial Resources

Front

What are Natural Resources? Fill in the blank: Natural Resources are things that are found in ______.

Back

nature

Front

What are Human Resources? Fill in the blank: Human Resources are the ______ who work to earn money while producing goods and services.

Back

people

Front

What are Capital Resources? Fill in the blank: Capital Resources are the ______ used to create other products.

Back

products

Front

What is an incentive? Fill in the blank: An incentive is something that is ______ to help you make economic decisions.

Back

offered