
Econ Ch 1 Test
Authored by Maria Harritt
Social Studies
12th Grade
Used 1+ times

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46 questions
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1.
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45 sec • 1 pt
Resources that are used to make goods and services; land, labor, capital
2.
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45 sec • 1 pt
The actions or activities that one person performs for another
3.
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45 sec • 1 pt
Situation in which consumers want more of a good than the producer is willing to make at a particular price
4.
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45 sec • 1 pt
Physical object that someone produces
5.
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45 sec • 1 pt
Person who decides how to combine resources to create goods or services
6.
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45 sec • 1 pt
The act of giving up one benefit in order to gain another, greater benefit
7.
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45 sec • 1 pt
Study of how people seek to satisfy their wants/needs by making choices
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