Econ Final Exam Review
Flashcard
•
Social Studies
•
12th Grade
•
Practice Problem
•
Hard
Wayground Content
FREE Resource
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40 questions
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1.
FLASHCARD QUESTION
Front
Unlimited wants and limited resources
Back
Scarcity
2.
FLASHCARD QUESTION
Front
Possible options that we can choose from when we face scarcity: Trade-off, Sole Proprietorship, Structural Unemployment, Market Economy
Back
Trade-off
3.
FLASHCARD QUESTION
Front
A situation in which something needed cannot be obtained because of insufficient amounts
Back
Shortage
4.
FLASHCARD QUESTION
Front
The next best alternative given up when a choice is made
Back
opportunity cost
5.
FLASHCARD QUESTION
Front
land, labor, capital, entrepreneurship
Back
Factors of Production
6.
FLASHCARD QUESTION
Front
Gross Domestic Product, measured by economic growth
Back
GDP
7.
FLASHCARD QUESTION
Front
Consumer Price Index, measured by price stability
Back
CPI
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