Quizziz chapter 1 and 2 by the best group

two key ideas of economics are that goods are___________ and societies need to use their resources ____________

• scarce, efficiently

• efficiently, rare

• unique, inteligent

• special, every day

The branch of economics that is concerned with the behavior of individual entities such as markets and firms

• Microeconomics

• Macroeconomics

• superlative economics

• Supereconomics

it is the branch of economics that is concerned with the overall performance of the economy.

• Macroeconomics

• Microeconomics

• Supereconomics

• superlative economics

Which of this of terms describes the facts of an economy

• Positive economics

• Negative economics

• Normative economics

• Superlative economics

The 3 fundamental questions of economic organization

• What, where, and how?

• where, how, and yet?

• What, how and whom?

• who, what and where?

What do we study in economics?

• international trade and finance, and the impact of globalization

• trade and finance

• impact of globalization

• nothing

A ???? economy is one in which individuals and private firms make the major decisions about production and consumption.

• Market

• Socialism

• Command

• Mixed

Which type of economy is the one in which the government makes all important decisions about productions and distribution.

• Command economy

• Market economy

• Mixed economy

• Normal economy

The 3 factors of productions

• production, labor and work

• people, money and production

• Land, machinary and work

• Labor, land and capital

It is a place through which buyers and sellers interact to determine prices and exchange goods

• School

• Market

• Bank

• Bitcoin