Basic Economics

What do economists mean by the term "scarcity"?

• Having too few or too little of resources

• Having too many resources

• Having just enough resources

• Having the correct amount of resources

Basic things humans need to survive

• need

• want

• import

• demand

Extras that make life more enjoyable

• want

• need

• producer

• savings

The study of making, buying, and selling goods or services

• economics

• producer

• want

The amount you have of a good was called the

• Need

• Supply

• Demand

• Want

How much a good is wanted by consumers is called

• Need

• Supply

• Demand

• Scarcity

Something we use to make products

• resource

• scarcity

• demand

• supply

What is bankruptcy?

• losing a game

• running out of money and items

• running out of time

• losing a bet

What is a direct deposit?

• being paid directly with getting a gift from the employer

• being paid directly in person from employer to the employee

• being paid directly in person by check

• the electronic transfer payment from the employer to employee

What is a monopoly?

• just a board game

• the exclusive possession or control of the supply of or trade in a commodity or service

• when you have to much money and possessions and the government takes them from you

• a shape