Presentation is loading. Please wait.

Presentation is loading. Please wait.

Answering the Three Economic Questions 1.An _________ is the method used by a society to produce & distribute goods and services. 2.In order for a society.

Similar presentations


Presentation on theme: "Answering the Three Economic Questions 1.An _________ is the method used by a society to produce & distribute goods and services. 2.In order for a society."— Presentation transcript:

1 Answering the Three Economic Questions 1.An _________ is the method used by a society to produce & distribute goods and services. 2.In order for a society to decide the goods and services its going to produce it has to ask itself this question: __________________? 3._______________ is the income people receive for supplying factors of production such as land, labor, or capital

2 4.The person getting to drive the luxury car, the person owning only a Nokia phone with no camera or text messaging capabilities, or the person getting to live in the suburbs is answered by the question ______________________. 5.__________ is the love for ones own country. 6.______________ is when a society maximizes what it can get for the resources they have to work with

3 7.A set of government programs to protect people in an unfavorable economic condition is called a ________. 8.___________ is the opportunity to make our own economic choices. 9.A level of economic prosperity is called ________________. 10.____________ is the way a society decides to divide the economic pie. 11.In a ___________ a society relies on custom or rituals to decide what to produce, how to produce it and whom to distribute it to.

4 12.In a ____________ the government decides how to answer the three economic questions. 13.In a __________ the government plays a limited role. 14.In a ___________ the government alone is in control of the economy. 15.In _____________ changes in technology, increased efficiency of products and production of new goods and services improves peoples standard of living.

5 16.The fact that people do not like uncertainty and want reassurance that goods and services will be available is called ________________. 17.A farmer getting rid of his mule and using a tractor is an example of ______________. 18.People deciding what kind of entrepreneurs they will is an example of a ______________ (observe article) 19.A government breaking up a monopoly will most likely occur in a _______________.

6 20.Questions like What constitutes a fair share or should everyone get the same is an example of ___________ 21.Food stamps, section 8 housing, & social security are examples of _____________. 22.A government that limits the amount of cell phones your company can produce each year is an example of a _____.


Download ppt "Answering the Three Economic Questions 1.An _________ is the method used by a society to produce & distribute goods and services. 2.In order for a society."

Similar presentations


Ads by Google