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CH 1-3 CH 4-6 CH 7-9 CH 10-11 100 100 100 100 200 200 200 200 300 300 300 300 400 400 400 400 500 500 500 500 What is Land, Labor, Capital. What is _The fators of Production____? RETURN Row 1, Col 1 Law of Demand. What is when price goes one way, quantity demanded goes RETURN the other way? 1,2 When one business owns all of a Specific company or product. What is a monopoly? RETURN 1,3 What sort of Mpg does it have. What is one thing to consider before buying a car? RETURN 1,4 What should be produced. What is one of the three basic questions of economics? RETURN 2,1 As price goes one way quantity Supplied goes the same way. Law of Supply is? RETURN 2,2 When one person owns and is Responsible for something. What does sole proprietorship mean? RETURN 2,3 a market for short-term debt instruments. What is a money market? RETURN 2,4 Opportunity Cost. The cost of the next best alternative that is forgone? RETURN 3,1 Shortages, Rationing, Black Market, and Drops in quantity. If the brice is too low (below equilibrium) we get what? RETURN 3,2 When more than one person is Responsible for something. What is a partnership? RETURN 3,3 a bank account that accumulates interest. What is a savings acount? RETURN 3,4 Shows the different combinations Of goods produced with a given Amount of resources. What is a production possibilities curve? RETURN 4,1 Surpluses, Storage Problems Disposal Problems, and rise in Product quantity. If the price is too high (above equilibrium) we get what? RETURN 4,2 a business entity that is given many of the same legal rights as an actual person. What is a corporation? RETURN 4,3 A account that allows you to gain Interest but will not let you access The account. What is a CD? RETURN 4,4 Traditional, Mixed Market, Command. What are 4 types of economic systems? RETURN 5,1 Eating Reeseās peanut butter cups. What example of the Law of Diminishing Marginal Utility did 5,2 RETURN we observe in class? a market condition where no buyer or seller has the economic power to alter or fix the price of a product or service. What does a perfect competition mean? RETURN 5,3 Dollar value of all final goods and Services produced within a Country's border in one year. What is a Nominal GDP? RETURN 5,4