AP Macro Unit 1 Review

AP Macro Unit 1 Review

Assessment

Flashcard

Social Studies

11th - 12th Grade

Hard

Created by

Wayground Content

FREE Resource

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23 questions

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1.

FLASHCARD QUESTION

Front

__________study of how people (including companies/countries) make choices on buying, selling, using, and distributing goods/services.

Back

Economics

2.

FLASHCARD QUESTION

Front

___________ The actual thing you gave up to have something else. Everything has a cost

Back

Opportunity Cost

3.

FLASHCARD QUESTION

Front

Individuals who come up with a new idea for a good or service, then they make it a reality

Back

entrepreneur

4.

FLASHCARD QUESTION

Front

Something we use from nature

Back

natural resource

5.

FLASHCARD QUESTION

Front

The idea that resources are limited; we don't have an unlimited supply of what we want

Back

scarcity

6.

FLASHCARD QUESTION

Front

Human-made materials used to produce goods and services.

Back

capital

7.

FLASHCARD QUESTION

Front

An economy where the government controls the factors of production resources.

Back

command

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