
Econ Review
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
+1
Standards-aligned
Bethany Norris
FREE Resource
Student preview

13 questions
Show all answers
1.
FLASHCARD QUESTION
Front
What is scarcity?
Back
The condition where unlimited wants exceed limited resources
Tags
GA.SSEF1.a.
2.
FLASHCARD QUESTION
Front
Which is an example of a natural resource (land)?
Back
Water
Tags
GA.SSEF1.b.
3.
FLASHCARD QUESTION
Front
What is the opportunity cost of attending college instead of working full-time immediately after high school?
Back
The money you will make. (Wages)
Tags
GA.SSEF1.d.
4.
FLASHCARD QUESTION
Front
How do individuals, businesses, and governments make rational decisions?
Back
By comparing marginal benefits and marginal costs
Tags
GA.SSEF1.d.
5.
FLASHCARD QUESTION
Front
What is an example of a positive incentive for businesses?
Back
A government subsidy for solar panels (renewable energy)
Tags
GA.SSEF1.c.
6.
FLASHCARD QUESTION
Front
Which of the following best illustrates marginal benefit exceeding marginal cost?
Back
A student studies for an extra hour because it improves their test score.
Tags
GA.SSEF1.c.
7.
FLASHCARD QUESTION
Front
setting up a business and taking a financial risk
Back
Entrepreneurship
Tags
GA.SSEF1.b.
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