Economics Unit 1 Review

Economic products designed to satisfy people's wants and needs are called _________.

Write the key term that best completes the following sentence: The _______ of a CD player can be expressed in dollars and cents.

Write the key term that best completes the following sentences: Haircuts, repairs to home appliances, and entertainment are examples of _________?

Write the key term that best completes the following sentences: _______ arises because society does not have enough resources to produce all the things people would like to have.

Write the key term that best completes the following sentences. The _______ of going to a football game instead of working would include the money not earned at your job.

Write the key term that best completes the following sentence: _______ is the sum of the skills, abilities, health, and motivation of people.

Write the key term that best completes the following sentence: _______ is another name for the capacity of a product to be useful.

The only factors of production that are themselves the result of earlier production are _______.

Land, labor, entrepreneurship, and capital are _______.

People who use goods and services to satisfy their wants and needs are called _______.