Unit 7: Economic Fundamentals Worksheet

what is the fundamental economic problem
4 factors of production are land, labor, entrepreneurship and what
physical capital consists of machinery while human capital consists of what
What factor of production is an office building
what factor of production is water
what factor of production is job training
what factor of production is a hammer
what factor of production is a worker that places goods in boxes
what factor of production is roads
what factor of production is a CEO of Fed Ex
what types of workers are typically paid a wage and preform manual labor
Doctors and lawyers would be an example of what type of worker
jan wants to go to eat with her friends but she also needs to study for a test. Jan decides to stay home and study. what is the opportunity cost?
why can a society not produce all the guns and butter it wants
If one thinks about the benefits of using one more unit, what is this called
what is the degree to which resources are being used efficiently to produce goods and services
what graph shows ways to use an economy's resources is called the production possibilities _________
what term do we use to describe using fewer resources than an economy is capable of using
In what ways could an economy increase their productivity and promote economic growth
an assembly line is an example of
Growth in an economy can cause the frontier to shift to the
What costs would wages to pay workers be
What costs would mortgage payment for the building be
The money earned by opening the pizza shop one additional day would be what kind of cost
The additional cost of opening the store on Thursday evening
what work by Adam Smith provides the foundation for a free-market economic system