Unit 1 Economics

What are the "essentials to survive" called...

• Goods

• Economics

• Wants

• Needs

This image is an example of what?

Having unlimited wants but limited resources is called...

• Trade-offs

• Wants

• Economics

• Scarcity

This image is an example of

Something that is desired but not needed to survive is...

• Wants

• Needs

• Economics

• Scarcity

This image is an example of what?

ALL the options that we have to choose from in a situation is...

• Scarcity

• Resources

• Opportunity cost

• Trade-offs

This image is an example of what?

The study of choices people make on how to use the limited resources that they have to live, work, and plan for the future is called

The study of the choices people make on how to use the limited resources that they have to live, work, and plan for the future is called...

• Trade-offs

• Economics

• Marginal Analysis

• Scarcity