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15
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Equipment, buildings, and tools used to produce a good are called ______ resources.
capital
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15
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Things that people desire but are not necessary for their survival
wants
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15
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Consumers may buy or not buy goods and services in this economic system
Market or mixed
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seesaw
Swap points!
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fairy
Take points!
5
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20
25
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gift
Win 25 points!
Okay!
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thief
Give points!
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15
20
25
15
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Name the four factors of production
Land (natural resources), labor, capital, and entrepreneurship
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15
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What economic system focuses on the goal of equity?
Command
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15
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An economic system that has free enterprise but is regulated by the government.
Mixed
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15
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What is the main reason that determines our economic choices?
scarcity
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15
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Individuals have little choice in the work they do in this economic system.
Command
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15
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Investments in human capital lead to a higher...
standard of living
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15
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This economic system provides Social Security and Medicare to its citizens.
Mixed
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15
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What is used in economics to illustrate economic growth?
production possibilities curve
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thief
Give points!
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25
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star
Double points!
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shark
Other team loses 25 points!
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baam
Lose 25 points!
Oops!
15
×
What is a need?
Anything we need to survive
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boom
Lose 50 points!
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gold
Win 50 points!
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gift
Win 5 points!
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banana
Go to last place!
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15
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A permanent condition that exists because unlimited wants exceed limited resources.
scarcity
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