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39 questions

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1.

FLASHCARD QUESTION

Front

Economics

Back

Study of managing scarce resources

2.

FLASHCARD QUESTION

Front

Gap between limited resources and unlimited wants.

Back

Scarcity

3.

FLASHCARD QUESTION

Front

Scarcity occurs when unlimited needs/wants exceed limited resources.

Back

Scarcity: Unlimited needs/wants > Limited resources

4.

FLASHCARD QUESTION

Front

Causes of scarcity

Back

Limited resources & unlimited wants

5.

FLASHCARD QUESTION

Front

Essential items for survival.

Back

needs

6.

FLASHCARD QUESTION

Front

Items a person can live without.

Back

wants

7.

FLASHCARD QUESTION

Front

Want or Need?

Back

Need

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