STUDY GUIDE Final Exam Economics.

Slides:



Advertisements
Similar presentations
Scarcity. Shortage Capital Physical capital Human capital.
Advertisements

Economics Spring 2014 Final Exam Review.
Define economics The study of how people seek to satisfy their needs and wants by making choices.
THE MARKET SYSTEM and the Circular Flow Model
1. absolute advantage 2. capital 3. command economy.
Capitalism and Command Economic Systems nEgjwfX6s8.
Economics Benchmark Review Basic Concepts and Terms.
Demand and Supply. Main idea: Demand includes only those people who are willing and able to buy.
Basic Economics (55-61). 1. Joe has $100. He needs a new jacket and would like to buy a pair of tickets for Sunday’s game. He cannot afford both. He buys.
EOC Survivor Season 3 Chapters Question 1 What is the desire to make money called? (Profit incentive or profit motive)
Unit 8: Introduction to Economics By Emily Stine, Philip Hinton, Cassidy Nye, and Nick Ostendorff.
Economics Mid-Term Review Chapters 1 – 7. Concepts  Paradox of Value  Opportunity Cost  Trade-offs  Economic Interdependence  Capital Goods  Productivity.
Microeconomics Business Organizations. Microeconomics: Overview Study of individual businesses and households SMALL scale decisions –A firm’s business.
Analyze Features of the US Economic System
Goal 8 Economics II Topic 1: Types of Economies Topic 2: Supply/Demand Topic 3: Business Organization Topic 4: Managing Money & Banking Topic 5: Consumer.
MID TERM “Jeopardy Dukes of Hazzard Challenge” BO LUKEUNCLE JESSIE ROSCOE CLETUS
Key Concepts Unit Start of UNIT Scarcity 196. Choice 197. Cost and benefits.
Unit 2 Review Economics is the study of _____________, _________________, and ______________ Production, consumption and distribution.
$200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 $200 $400 $600 $800 $1000 Demand and Supply LaborMarket Structures Business.
Unit 1 review. 1.Economics 2.Scarcity 3.Trade-off 4.Opportunity cost 5.Marginal cost 6.Factors of production 7.Gross Domestic Product (GDP) 8.Productivity.
Goal 7 Individuals and Economic Choices. Basic Factors of Production Land (property plus natural resources on property) Labor (contribution of human workers)
Economics Unit Review Please select a Team. 1.Team 1 2.Team 2 3.Team 3 4.Team 4 5.Team 5 0 of 5 10.
Type of BusinessDefinitionAdvantages (+)Disadvantages (-) Sole Proprietorship Partnerships Corporation Guided Reading/Notes: Business and Labor Name: ____________________________________.
UNIT 7 PAGES OVERVIEW OF THE US ECONOMY. OVERVIEW OF BASIC ECONOMIC SYSTEMS Traditional : based on customs and traditions Command : government.
Midterm Vocabulary Studyguide. Economics Midterm Vocabulary 1) scarcity 2) land 3) capital 4) labor 5) entrepreneurs 6) consumer 7) goods 8) services.
Chapter 1- 3 Chapter 4- 6 Chapter 7-9 Chapter
ECONOMICS UNIT 3 Economics The Social Science dealing with making choices about using resources and spending money Economy- country’s.
Instructions for using this template. Remember this is Jeopardy, so where I have written “Answer” this is the prompt the students will see, and where.
UNIT 2 REVIEW GAME Labor Unions Types of Workers Union Strategies Miscellaneous 1234XX Business Organizations
UNIT 2: INTRODUCTION TO ECONOMICS TEST REVIEW. 1. Which of the following is NOT a factor of production? a. Land b. Labor c. Capital d. Resources.
What goods and services should be produced? How should they be produced? For whom are they produced? How a society answers these questions determines.
Chapter 2 Managing Resources C H A P T E R 2. Being a Manager Means Managing Resources Money Goods and services People.
$100 $400 $300$200$400 $200$100$100$400 $200$200$500 $500$300 $200$500 $100$300$100$300 $500$300$400$400$500.
Economic Systems Ch. 23 Capitalism Socialism Communism.
EOC Review Civics and Economics Economics Basics & Types of Economies
Friday Feb 3rd “The meaning of peace is the absence of opposition to socialism” Karl Marx LAST DAY FOR PENNIES FOR PATIENTS HAVE YOU MET YOUR CLASS GOAL?
THE MARKET SYSTEM and the Circular Flow Model
Pgs Types of Businesses
Unit 10: Personal Finance
Factors of Production -Capital or Capital Goods---the money or tools needed to produce goods/services -Land / Resources– the natural resources needed.
Theory Proponents How it would work? Capitalism Adam Smith
THE INDUSTRIAL REVOLUTION AND CLASSICAL ECONOMICS
The Pyramid Game.
Unit 10: Personal Finance
Unit 3 Essential Question: Who or what decides what you get?
4 Types of Economic Systems
Objectives Define the role of small business and entrepreneurship in the economy. Compare and contrast economic systems. Explain how economics is about.
Microeconomics.
EOCT Review Microeconomics.
Microeconomics Vocabulary
Basic Economics 30. Explain what a comparative advantage is?
What are the four Factors of production
Chapter 3 Essential Question: Who or what decides what you get?
Unit 7: Economics & Choices
Economies in Transition
Economic Theories Chapter 1 Section 4.
Types of Economic Systems
Get out reading-T Chart from yesterday
BUSINESS & LABOR Sole Proprietorship Partnership Corporation
ECONOMICS SUPPLY AND DEMAND.
7.4 Economic Systems.
Demand supply Supply And demand Business Labor
Economic Systems Ch. 23 Capitalism Socialism Communism.
Capitalism & Socialism
Semester II Exam Review
Topic 5: Business and Labor
Ch.25.4 The Age of Reforms (old book)
Goal 7: Economics & Choices
Capitalism & Socialism
Business, Competition, and Labor
Presentation transcript:

STUDY GUIDE Final Exam Economics

Liabilities Capital Profit Traditional Economic System Command Economic System Mixed Economic System Market Economic System Services Wants Economics Opportunity Cost Resource Economy Karl Marx John Locke Thomas Malthus Adam Smith

Stability Free Enterprise Economic Growth Profit Incentive Capitalism Utility Real Income Law of Demand Substitution Effect Elastic Demand Law of Supply Shortage Surplus Equality Right-to-Work Laws Supply Inelastic Supply Production Cost Debt Competition

Capitalism Time Utility Specialization Real Income Equilibrium Price Price Elasticity Sole Proprietorship Franchise Cooperative Corporation Preferred Stock Common Stock Partnership Civilian Labor Force Boycott Strike Injunction Lockout Arbitration Mediation

White Collar Service Worker Skilled Worker Unskilled Worker Semi-skilled Worker Professional Goods Laissez-Faire Marginal Utility Possession Utility Bond Blue Collar Worker

Feedback: Privacy Policy Feedback
Do Not Sell My Personal Information
About project: SlidePlayer Terms of Service

© 2025 SlidePlayer.com. Inc. All rights reserved.