Economics

Flashcard
•
Social Studies
•
9th - 12th Grade
•
Hard
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20 questions
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1.
FLASHCARD QUESTION
Front
In economics, the value of the next best alternative is called _________.
Back
Opprotunity Cost
2.
FLASHCARD QUESTION
Front
In economics, resources are:
Back
Anything used to create something else
3.
FLASHCARD QUESTION
Front
Resources (a.k.a. the factors of production are)
Back
Land, Labor, Capital and Entrepreneurship
4.
FLASHCARD QUESTION
Front
Workers
Back
Labor
5.
FLASHCARD QUESTION
Front
What are the factors of production? Options: Land, Labor, Capital, Entrepreneurship
Back
Capital
6.
FLASHCARD QUESTION
Front
Raw materials (i.e. cotton, oil...etc.) are classified as: Land, Labor, Capital, Entrepreneurship
Back
Land
7.
FLASHCARD QUESTION
Front
The people who bring all the factors together to create something are practicing
Back
Entrepreneurship
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