ECON - U1 - Section 1+2

WHICH FOP - Waitress at Denny's

• Land

• Labor

• Entrepreneurship

• Capital

Which of the following Factors of Production rely on people?

• Land

• Labor

• Entreprenuership

• Capital

What is the difference between a need and a want?

• needs are things you can touch, wants are jobs preformed for you

• needs are not necessary for survival, wants are

• needs are necessary for survival, wants are not

• needs are resources at are valuable and cause satisfaction

These are examples of services... (select two)

• A concert

• A pineapple

• A hotel room

• A freezer

This is where people look for jobs.

• Amazon

• Product Market

• Factor Market

• Facebook Marketplace

WHICH FOP - A computer chip

• Land

• Labor

• Entrepreneurship

• Capital

These are examples of durable goods... (select two)

• Dishwasher

• Oreos

• Hairspray

• Frisbee

These are examples of needs... (select two)

• A new car

• Clothes

• A place to call home

• Taylor Swift tickets

WHICH FOP - You start a lawn mowing business

• Land

• Labor

• Entrepreneurship

• Capital

These are examples of goods... (select two)

• An onion

• Mechanic work

• Uber ride

• A baseball bat