Needs are essential for survival.
| Card: 2 / 20 |
Opportunity cost is significant in choices.
| Card: 4 / 20 |
Understanding costs and benefits enhances decision-making.
| Card: 6 / 20 |
Fill in the blank: Goods are ___ that we can touch, while services are ___ that people do for others. | Card: 7 / 20 |
True or False: Economics only applies to businesses and does not affect individual decision-making. | Card: 9 / 20 |
False. Economics applies to both businesses and individuals, as it involves choices related to the use of resources in daily life. | Card: 10 / 20 |
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Riddle: I am what you give up when you make a choice, but I'm not a physical object. What am I? | Card: 11 / 20 |
Resources are the materials, money, and labor used to produce goods and services, forming the foundation of economic activity. | Card: 14 / 20 |
Fill in the blank: Every economic choice has a cost, which is what you ___ or spend. | Card: 15 / 20 |
Businesses analyze costs and benefits to determine which products to manufacture and sell, aiming to maximize profits and efficiency. | Card: 18 / 20 |
Trading enhances economic well-being.
| Card: 20 / 20 |






