What Economics Is About Intro

Buildings, tools, machines, and equipment used in production are examples of what types of resources?

• Human Resources

• Captial Resources

• Natural Resources

Productive Resources can be classified into how many groups?

• 3

• 1

• 5

Which of the following is not a productive resource?

• Natural Resource

• Human Resource

• Unlimited Resource

• Capital Resource

Tension between unlimited wants and the limited resources is known as

(a)  

To solve the basic economic problems faced by every society how many questions must be answered

(a)  

List the three main types of economic systems

The countries of Cuba and North Korea are examples of which type of economy?

• Market

• Traditional

• Command

The United States, Singapore, and Japan are examples of countries that have which type of economy.

• Market

• Traditional

• Command

The Amish Culture is an example of what type of economy

• Market

• Command

• Traditional

Economic decisions are based on cultural and historical precedent in which economic system

• Command Economy

• Traditional Economy

• Market Economy