Economic Review

Economics is

• The science that deals
  with the production, distribution,
  and consumption of goods and services

•  The planning,
  recording, analyzing
  and interpreting of financial
  information

• The study of the world and it's imports & outports

• The action or business of promoting and selling products or services, including market research and advertising.

Economics is a _science

• social
• financial

• business

• money

Surplus means we have too much

and

Scarcity means we don't have enough

• TRUE

• FALSE

The Economic problem is that we have unlimited _ but limited resources.

• WANTS

• NEEDS

• MONEY

• MATERIALS

Microeconomics studies the economy as a whole.

• TRUE

• FALSE