Scarcity And Factor Of Production

Question 1

NEED

Answer 1

Can’t live without it

Question 2

WANT

Answer 2

Anything that is not a need

Question 3

3 basic NEEDS

Answer 3

Food
Water
Shelter

Question 4

Economics

Answer 4

Satisfy needs and wants by making chooses

Question 5

Scarcity

Answer 5

Limited amount
Cannot be replaced

Question 6

Goods

Answer 6

Something that you can touch

Question 7

Services

Answer 7

Smth/smone provide you

Question 8

Shortages

Answer 8

Limited amount
CAN be replaced

Question 9

Can’t live without it

Answer 9

NEED

Question 10

Anything that is not a need

Answer 10

WANT

Question 11

Food
Water
Shelter

Answer 11

3 basic NEEDS

Question 12

Satisfy needs and wants by making chooses

Answer 12

Economics

Question 13

Limited amount
Cannot be replaced

Answer 13

Scarcity

Question 14

Something that you can touch

Answer 14

Goods

Question 15

Smth/smone provide you

Answer 15

Services

Question 16

Limited amount
CAN be replaced

Answer 16

Shortages

Question 17

Factor Of Production

Answer 17

F.O.P
Land
Labor
Capital(human/physical)
Entrepenour

Question 18

Land

Answer 18

Any natural resource

Question 19

Labor

Answer 19

Ability to do work

Question 20

Physical capital

Answer 20

Anything that make your job easier

Question 21

Human capital

Answer 21

education or experience

Question 22

entrepenour

Answer 22

Bring the F.O.P together to make a profit

Question 23

F.O.P
Land
Labor
Capital(human/physical)
Entrepenour

Answer 23

Factor Of Production

Question 24

Any natural resource

Answer 24

Land

Question 25

Ability to do work

Answer 25

Labor

Question 26

Anything that make your job easier

Answer 26

Physical capital

Question 27

education or experience

Answer 27

Human capital

Question 28

Bring the F.O.P together to make a profit

Answer 28

entrepenour

Question 29

incentives

Answer 29

encourage people to take certain actions

Question 30

utility

Answer 30

benefict of satisfaction received from a good or service

Question 31

trade off

Answer 31

what u choose

Question 32

opportunity cost

Answer 32

what u give up

Question 33

bussines interest

Answer 33

only focus profit

Question 34

society

Answer 34

guns vs butter

Question 35

production possibilities

Answer 35

maximum output posible

Question 36

efficiency

Answer 36

maximazing all FOP

Question 37

encourage people to take certain actions

Answer 37

incentives

Question 38

benefict of satisfaction received from a good or service

Answer 38

utility

Question 39

what u choose

Answer 39

trade off

Question 40

what u give up

Answer 40

opportunity cost

Question 41

only focus profit

Answer 41

bussines

Question 42

guns vs butter

Answer 42

society

Question 43

maximum output posible

Answer 43

production possibilities

Question 44

maximazing all FOP

Answer 44

efficiency