Intro to Economic Ideas

Economics is the study of how we make decisions in a world with limited

• needs

• wants

• choices

• resources

Capitalism is an example of a

• economic model

• economic decision

• economic system

• branch of economics

Macroeconomics or Microeconomics: Granville County Public Libraries Extend Hours

• Macroeconomics

• Microeconomics

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• Macroeconomics

• Microeconomics

Macroeconomics or Microeconomics: The Greek Economy Collapses

• Macroeconomics

• Microeconomics

Which of the following is a natural resource?

• water

• machinery

• skills

• knowledge

What does microeconomics deal with?

• the production of whole

  industries

• the distribution of goods worldwide

• the economic decisions of individuals

• the allocation of

  resources by

  governments

Which of the following is a want?

• food

• videos

• shelter

• clothing

Wants are limited or unlimited?

• Limited

• Unlimited

Which of the following are examples of services?

• Apples, Computers, Clothing

• Firemen, Police Officers, Soldiers

• Health, Love, Friendship