Study your flashcards anywhere!

Download the official Cram app for free >

  • Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/5

Click to flip

5 Cards in this Set

  • Front
  • Back
what is the econmoic problem?
1.scarcity
2.the condition that results from society not having enough resouces to produce all the things people wold like to have.
What are the fators of prduction?
1.land
2.Labor
3.Capital
4.Enterpernuership
What are 2 types of goods?
1.Capital Goods
2.Consumer Goods
What is gross domestic product? (GDP)
The differnce between what the economy can and does produce.
The study of economics...
Helps people how a free enterprise economy makes the WHAT, HOW, and FOR WHOM decisons.