Economics
Final Exam Study Guide
Unit 1: Know the following terms and be able to answer the following questions
1. opportunity Cost-
2. service-
3. Voluntary Exchange-
4. Natural Resources-
5. Market Economy-
6. Command Economy-
7. Mixed Economy-
8. How does the US Government pay for most public goods and services?
9. What is the relationship between opportunity costs and trade-offs?
10. What makes an economic decision rational?
