Miscellaneous Quiz / Economics 101

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Can you name the Economics 101?

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DefinitionsTerms
to distribute scarce resources
the study of an entire economy or one of its principal sectors
the combination of economics that results from the combination of limited resources and unlimited wants
the worth of a good or service
one who buys goods and services
a finished product that is consumed by an individual
the relationship of mutual reliance and influence among people, businesses, industries, regions, and nations
the division of a complex procedure into small tasks, enabling workers to increase output through specialization
the study of how society chooses to use scarce resources to satisfy its unlimited needs and wants
the sacrifice in order to purchase or produce another
in any action or activity that is performed for a fee
the direct exchange of goods and services without the use of money
currency that is accepted in exchange for goods and services
an object that can be purchased to satisfy human needs and want s
someone who studies economics
DefinitionsTerms
a form of exchange that allows consumers to use items with a promise of repayment over a specified time
scientific and technical techniques used to produce existing products more efficiently or of higher quality
a person, group, or business that makes goods or provides services to satisfy consumer's needs and wants
the level of output that results from a given level of output
an item that is used in the production of other goods and services
anything used to produce goods or services
producers and consumers agree to provide one type of item in return for another
a finished product that is consumed by a person
any human activity-mental or physical-used in the production process
a resource used to produce goods and services
a building, structure, machine or tool that is used to produce goods and services
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