Economics Review 2023

Front

A factor of production that includes all natural resources.

Back

land

Front

What are the resources needed for a business to function?

Back

factors of production

Front

Which term describes the workers needed to complete a job?

Back

labor

Front

Which is NOT one of the fundamental economic questions?
Options:
What to produce,
How to produce it,
Who to produce it for,
Where am I going to make it

Back

Where am I going to make it

Front

The tools needed to complete a job.

Back

capital

Front

Someone who starts their own business.

Back

entrepreneur

Front

All businesses related to the same type of product.

Back

industry

Front

When things are scarce they are...

Back

limited

Front

An excess amount of something. More than you need.

Back

surplus

Front

This economy is based on customs and beliefs.

Back

traditional