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Economics Chapter 1 Chapter Review.notebook
1
September 07, 2015
Test Overview
Economics Test #11. 15 Matching
2. 10 true/false
3. 25 multiple choice
Things to study1. 3 worksheets
2. Crossword
3. Chapter Summary on page 25
(last page of green packet)
4. Smart Board Review Slides
(they are online)
page 25
Economics Chapter 1 Chapter Review.notebook
2
September 07, 2015
Review Slide 1
1. The four factors of production include: _______, ________, __________ , and _____________________.
2. The economy of a nation includes all the production of ________ and ___________ .
3. New and better ways of production can come through advances in _____________ .
4. People must constantly make economic choices due to ___________ .
5. Some goods or services may be temporarily unavailable due to _____________ .
6. ______________________ are useful for showing how people will respond to changes in the economy.
7. Models can be helpful in making predictions but can not make ______________ about specific policies.
land laborentrepreneurship
capital
goods services
technology
scarcity
shortages
economic models
judgements
valueswantsproductivity
Economics Chapter 1 Chapter Review.notebook
5
September 07, 2015
Economic Models
Examples of Economic Models: Unemployment vs. Minimum Wage
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