
Jones G220 C1 Basic Economic Concepts Flashcard
Flashcard
•
Social Studies
•
10th Grade
•
Practice Problem
•
Hard
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30 questions
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1.
FLASHCARD QUESTION
Front
Things that are required in order to live are known as wants.
Back
False
2.
FLASHCARD QUESTION
Front
Goods and services are purchased by businesses as well as by individuals.
Back
True
3.
FLASHCARD QUESTION
Front
Buildings, equipment, and supplies are examples of natural resources.
Back
False
4.
FLASHCARD QUESTION
Front
All economic resources have a limited supply.
Back
True
5.
FLASHCARD QUESTION
Front
The basic economic problem results from not having enough resources to satisfy every need.
Back
True
6.
FLASHCARD QUESTION
Front
Although all nations differ in the type and amount of economic resources they have, they all have the same economic needs.
Back
False
7.
FLASHCARD QUESTION
Front
A person who buys and uses goods and services is called a consumer.
Back
True
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