Question 1

Ex: Food, clothing, shelter

Accepted Answer

Need

Answer

Trade-Off

Answer

Wants

Question 2

Ex: Toys, Games, Entertainment

Accepted Answer

Wants

Answer

Trade-Off

Answer

Incentives

Question 3

Ex: The paycheck you receive at the end of the month for doing your job

Accepted Answer

Incentives

Answer

Capital

Answer

Land

Question 4

Ex: Idle cash balances

Accepted Answer

Opportunity Cost

Answer

Scarcity

Answer

Labor

Question 5

Ex: Making a sacrifice to get a certain product or experience

Accepted Answer

Trade-Off

Answer

Land

Answer

Financial Capital

Question 6

Ex: A company runs out of their product and cannot meet a society's demand

Accepted Answer

Scarcity

Answer

Services

Answer

Good

Question 7

Ex: Mineral Deposits, forests, fish stocks, geostationary orbits, portions of the electromagnetic spectrum

Accepted Answer

Land

Answer

Input

Answer

Good

Question 8

Ex: Financial wealth that is used to start and maintain a business

Accepted Answer

Capital

Answer

Productivity

Answer

Labor

Question 9

Ex: Retail, corporate, investment banking

Accepted Answer

Financial Capital

Answer

Economy

Answer

Entrepreneur

Question 10

Ex: People do a certain amount of work for their businesses every week

Accepted Answer

Labor

Answer

Good

Answer

Utility

Question 11

Ex: A person who takes a risk by running a certain business

Accepted Answer

Entrepreneur

Answer

Wealth

Answer

Utility

Question 12

Entrepreneur

Accepted Answer

Good

Answer

Profit Motive

Answer

Standard of Living

Question 13

c

Accepted Answer

Services

Answer

Market

Answer

Competition

Question 14

Ex: Resources that a company will need in order to make a profit

Accepted Answer

Input

Answer

Free Enterprise

Answer

Economy

Question 15

Ex: Monitor, printer, plotter, projector, speaker

Accepted Answer

Output

Answer

Market

Answer

Economic Growth

Question 16

Ex: A certain equipment can produce 15 tons of output per hour

Accepted Answer

Productivity

Answer

Consumer Sovereignty

Answer

Utility

Question 17

Ex: These resources can be divided into labor, management, land, capital goods, etc

Accepted Answer

Economy

Answer

Paradox of Value

Answer

Market

Question 18

Ex: A capacity that has the commodity to give satisfaction

Accepted Answer

Utility

Answer

Capital

Answer

Labor

Question 19

Ex: How much a person has in savings (in some cases)

Accepted Answer

Wealth

Answer

Input

Answer

Competition

Question 20

c

Accepted Answer

Paradox of Value

Answer

Scarcity

Answer

Utility

Question 21

Ex: A place where buyers and sellers can meet to exchange goods/services

Accepted Answer

Market

Answer

Wants

Answer

Standard of Living

Question 22

Ex: The level of wealth, comfort, necessitates available in a certain area

Accepted Answer

Standard of Living

Answer

Free Enterprise

Answer

Opportunity Cost

Question 23

Ex: Businesses seek to motivate workers by raising profits

Accepted Answer

Profit Motive

Answer

Wealth

Answer

Market

Question 24

Ex: Rivalry among sellers to increase things like market share and sales volume

Accepted Answer

Competition

Answer

Paradox of Value

Answer

Entrepreneur

Question 25

Ex: A consumer buys a certain product and influences other consumers to do the same

Accepted Answer

Consumer Sovereignty

Answer

Good

Answer

Economic Growth

Question 26

Ex: An economic system with very few government restrictions

Accepted Answer

Free Enterprise

Answer

Utility

Answer

Output

Question 27

Ex: Measured in the gross of a domestic product or GDP

Accepted Answer

Economic Growth

Answer

Productivity

Answer

Services

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