BUS 1.1 Formative

The field of study of the process or system by which goods and services are produced, sold, and bought.

• Microeconomics

• Economics

• Macroeconomics

• Resources

The field of study of the process or system by which goods and services are produced, sold, and bought at the individual and company level.

• Microeconomics

• Economics

• Macroeconomics

• Resources

The field of study of the process or system by which goods and services are produced, sold, and bought on a national and global scale.

• Microeconomics

• Economics

• Macroeconomics

• Scarcity

A situation where there are not enough resources to satisfy needs.

• Microeconomics

• Resources

• Macroeconomics

• Scarcity

What does GDP mean?

• Grand Developed Plans

• Gross Domestic Product

• Good Domestic Production

• Great Dairy Products

Choose whether the example below is macro- or micro- Economics

The country of Saudi Arabia produces oil.

• Macro

• Micro

Choose whether the example below is macro- or micro- Economics

I bought a bag of chips from 7-11

• Macro

• Micro

Choose whether the example below is macro- or micro- Economics

The United States will offer military protection in exchange for access to a country's resources.

• Macro

• Micro

Choose whether the example below is macro- or micro- Economics

An elevator company in CT installs one in a business.

• Macro

• Micro

Choose whether the example below is macro- or micro- Economics

Allowing your neighbor to borrow a tool to do yard work.

• Macro

• Micro

• Both

• Neither