CH 2 Economic Resources and Systems

Flashcard
•
Life Skills
•
9th - 12th Grade
•
Hard
Wayground Content
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15 questions
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1.
FLASHCARD QUESTION
Front
What are limited resources called?
Back
nonrenewable
2.
FLASHCARD QUESTION
Front
Modern day Russia is a good example of a society trying to move from a _______________ to a more ________________.
Back
strict command economy; market-based economy
3.
FLASHCARD QUESTION
Front
If the price of a good rises, producers will be encouraged to produce __________ of that item.
Back
more
4.
FLASHCARD QUESTION
Front
____________ is the study of how society chooses to use resources to produce and distribute goods and services for people's consumption.
Back
economics
5.
FLASHCARD QUESTION
Front
shortage of resources
Back
scarcity
6.
FLASHCARD QUESTION
Front
classify the following resource as either natural, human, capital, or entrepreneurial ... a tree
Back
natural
7.
FLASHCARD QUESTION
Front
classify the following resource as either natural, human, capital, or entrepreneurial ... an office building
Back
capital
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