Economics Unit 1 Test

Front

Capital

Back

Dinero y activos utilizados para producir bienes y servicios

Front

Entrepreneur

Back

Una persona que organiza y gestiona un negocio, asumiendo riesgos

Front

What are 'Goods'?

Back

Artículos físicos producidos para la venta o el uso

Front

What does 'Guns or Butter' represent?

Back

Una compensación entre el gasto militar y los bienes de consumo

Front

Which is an example of 'Land' in economics? Options: Government bonds, Factory machinery, Corporate profits, Cash transfers, Oil reserves

Back

Reservas de petróleo

Front

The cost of the next best alternative when making a choice is called:

Back

Costo de oportunidad

Front

Limited resources and unlimited wants best describes:

Back

Escasez

Front

What is the term for giving up one benefit in order to gain another?

Back

Compensación

Front

When resources are not used to their full potential, it is called:

Back

Infravaloración

Front

The study of how people make choices to satisfy needs and wants is:

Back

Economía