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Econ Final Exam Review Flash Cards

Econ Final Exam Review Flash Cards

Assessment

Flashcard

Social Studies

10th Grade

Practice Problem

Hard

Created by

Kari Kidd

FREE Resource

Student preview

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50 questions

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1.

FLASHCARD QUESTION

Front

What is the primary focus of economics?

Back

The study of producing and consuming goods and services

2.

FLASHCARD QUESTION

Front

Scarcity

Back

A condition where resources are limited compared to wants

3.

FLASHCARD QUESTION

Front

Which of the following is NOT a type of resource? Labor, Money, Capital, Land

Back

Money

4.

FLASHCARD QUESTION

Front

Which of the following best describes renewable resources?

Back

Resources that can be replenished over time

5.

FLASHCARD QUESTION

Front

Opportunity cost

Back

What must be given up to get something else

6.

FLASHCARD QUESTION

Front

What does the production possibilities curve illustrate?

Back

How goods and services can be combined using all resources

7.

FLASHCARD QUESTION

Front

If a country chose to produce twice as many wooden chairs as before, what might happen to its production of wooden tables?

Back

Production of wooden tables would decrease

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