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Me (Quiz) > Applied Economics (Quiz) > Flashcards

Applied Economics (Quiz) Flashcards

1
Q

Servival

A

Need

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2
Q

Comfort

A

Want

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3
Q

Natural resources,human resources and capital resources are not avaible

A

Scarcity

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4
Q

Components that exist in the world without the input of humans.

A

Natural resources

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5
Q

Available to us in limited quantities,or those E.g. metals,rocks,minerals.

A

Non-renewarble resources

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6
Q

Replenished naturally in the course of time wind energy, Biomas,solar energy

A

Renewable resources

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7
Q

Set of people wo make up.
The workforce of an organization

A

Human resources (HR)

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8
Q

Hand made

A

Capital resources

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9
Q

(such as land,labor,capital, and entrepreneurship.

A

Faction of production

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10
Q

Limited

A

Budget constraints

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11
Q

Desires,wants

A

Personal preference

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12
Q

General economic system consists of individual, industries, government

A

Characteristics of an economics

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13
Q

Types economic system

A
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14
Q

System is base on principle of private property and free Enterprise

A

Capitalism

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15
Q

Allow to do/plurites france book from 1956 to 1778

A

Laissez

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16
Q

Jean baptise Colbert

A
17
Q

Leave us alone

A

Help business

18
Q

Central planning(takes an activity,leading role)

A

Socialism

19
Q

Private retor,many resources of production

A

Mixe economy

20
Q

Historical precedent

A

Traditional economy

21
Q

Limited need people of food individuals

A

What to produce

22
Q

Combination quantity of each resources
(Used a give level of output)

A

How to produce

23
Q

Whom to produce

A
24
Q

Industries or companies that require larger up front

A

Capital intensive

25
Q

Large amount of labor to produce of good to service

A

Labor intensive

26
Q

Construction of delaying production and having it later

A

When to produce

27
Q

Location of the i.e. neat soutce of raw materials source of energy,near transport system of market

A

Where to produce

28
Q

Defined as the cost of any decision measured

A

Opportunity cost

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