• 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

1/8

Click to flip

8 Cards in this Set

  • Front
  • Back
economic good
people want more of it even when the good is free
free good
more than enough available for everyone even if the good is free
ex. air
economic bad
people are willing to pay to avoid the item
ex. garbage
goods that are used to produce other goods are called?
economic resources
what are the main economic resources groups?
land, labor, capital, entrepreneurial ability
how do people make choices when choosing alternative resources?
people select the choices that make them happier
positive analysis
what is and has been happening in an economy as the base for any statements in the future
is a positive statement always right?
no. it can be right or wrong, it is checked by using facts