Economics

the study of how nations spend money, make money, make things and save money.

• Labor

• Capital

• Supply and Demand

• Economics

In what type of economy does the government make all the economic decisions?

• Communism
• Free Enterprise
• Socialsm
• Traditional

In which type of economy does the government manage some businesses & industries? 

• Free Enterprise
• Communism
• Socialism
• Traditional

A person who makes a product in the product market is called ___________________. 

• Consumer
• Clerk
• Worker
• Producer

A person who purchases a product is called a ________________________. 

• Producer
• Consumer
• Client
• Banker

There is a big concert event in your town and everyone wants to go.  There is a ____________ of tickets.

• Supply
• Scarcity 
• Credit 
• Cost factor

Which of the following is a good?

• cutting grass
• car wash
• food
• restaurant

Which of the following is a service?

• car
• shoes
• teacher
• computer

Necessary for survival

• Wants

• Needs

• Capital

• Labor

Not necessary for survival but are desired

• Wants

• Needs

• Labor

• Capital