The employee at the pet store who cleans the animal’s cages is considered which type of resource?

The cages that the animals live in until they are purchased are considered which type of resource?

Scarcity is the idea that….

It’s Thursday night. You have a biology test tomorrow morning. Your friend texts you and asks if you want to go over to his house and play Legend of Zelda on the Nintendo Switch. You love that game, but also want a good grade. You decide to stay home and study tonight. What is the opportunity cost of your decision?

Right now, you are taking a quiz. However, you could also be going to the bathroom, eating a snack or reading a book. All these choices represent...

Competition is...

Which country would be the best country to produce tank tops? Consider the resources each country has, the cost to produce, and the need for tank tops in that country.

Which type of economy is North Korea closet to??

Which type of economy is US closet to?

This principle allows you to own and do whatever you want with your stuff, and allows businesses to sell what they want.

You open a shoe repair shop. You made $100 worth of sales in week one. You had to pay $10 for a shoe repair kit, and $40 to hire your sibling to help you repair shoes. What is your profit?

It’s your freshman year in college and your roommate shares a fridge in the room with you. You’ve notices several of your Pepsi sodas have gone missing. One day you came back after class and saw him drinking one of your sodas. “What’s up, dude?” he says to you like nothing’s wrong. You say hi, and sit down at your desk, unsure of how to continue.

In a market economy, businesses are mostly motivated by..

What is the next step in the decision making process, after you select a solution?

What are the three economic questions that each society must answer?

You come home from school and tell your Mom that you really ______ the newest iPhone, but you actually _______ some food because you didn’t eat lunch today.