
Chapter 16 Lesson 1 and 2 Review
Quiz by Heather Cox
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33 questions
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- Q1goods and serviceswants are organized into what two groups30s
- Q2choicesunlimited wants + limited resources =30s
- Q3the study of how people choose to use their limited resources to satisfy their unlimited wantseconomics is30s
- Q4natural resources, labor, and capitalThere are 3 types of limited resources which include30s
- Q5buildings and tools used to produce goods/servicesCapital as a resource is referencing30s
- Q6people; skills and abilitiesLabor includes30s
- Q7trees, coal, bauxite, etc.natural resources include30s
- Q8we do not have enough resources to produce all of the things we would like to havescarcity occurs when30s
- Q9scarcitythe basic economic problem is30s
- Q103there are how many basic economic questions?30s
- Q11what goods and services will be produced?the 1st question that is answered by economists30s
- Q12how will the goods/services be produced?the 2nd question that is answered by economists30s
- Q13who will consume, or use, it?the 3rd question that is answered by economists30s
- Q14nation's resource and valuestwo big influences on who gets a good or service is30s
- Q15Mixed-Market economythe U.S. has what type of economy30s