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1. What are 4 factors of production?

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1. What are 4 factors of production? 2. A human resource falls under which factor of production? 3. Money, machinery, and equipment fall under which factor of production? – PowerPoint PPT presentation

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Title: 1. What are 4 factors of production?


1
1. What are 4 factors of production?
  • 2. A human resource falls under which factor of
    production?

2
3. Money, machinery, and equipment fall under
which factor of production?
  • 4. Natural resources and property are which
    factor of production?

3
5. The risk taker of a business involves which
factor of production?
  • 6. Ultimately, it is consumer demand that will
    determine what is produced in this economy
    (economic system)?

4
7. What two things happen in a market?
  • 8. This is a market system with government
    regulation.

5
9. Name the four economic systems.
  • 10. Which economic system is controlled by the
    government?

6
Name the only country in the western
hemisphere that has a command economy.
  • 11. Which economic system do citizens answer the
    4 economic questions (everything is privately
    owned)?

7
12. In which economic system are questions
answered based on custom ( the way things have
always been done)?
8
13. Is the following a good or service?
  • a. Gum?
  • b. Fitness center?
  • c. House?
  • d. Cafeteria pizza?
  • e. Waiter/waitress?

9
14. According to your notes, name three basic
needs.
10
15. Is the following a need or want?
  • a. Water?
  • b. Cell phone?
  • c. Necklace?
  • d. Shelter?
  • e. Car?

11
16. What is the term for a lack of resources?
  • 17. What are the 4 economic questions?

12
18. Where do most entrepreneurs receive money to
start their first businesses?
  • 19. What is the study of how a society uses its
    resources to obtain its wants and needs?

13
20. What is the term used for the economic cost
of making one choice over another?
  • 21. What is the probable opportunity cost of
    volunteering on the weekend?

14
22. Exchanging money for a soda is called
what?23. A credit union is a business
controlled by members. What kind of business is
this?24. What is used to measure the daily
activity of the stock market (NYSE)?
15
  • 26. What type of business would offer to sell
    ownership (shares) on the stock market?
  • 27. A business owned by one person, this is the
    most common form of business in the US.
  • 28.In a bear market, are investors doing more
    buying or selling?

16
  • 29. What is the primary advantage of having a
    partnership?
  • 30. In a capitalist society, in order for prices
    to remain low, it is necessary that we have what?
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