Urgently Needed: Economics Work

Define the following

1. A stock of a resource from which a person or place can be provided with the necessary amount of that resource.
2. A certificate issued by a government or private company which promises to pay back with interest the money borrowed from the buyer of the certificate: The city issued bonds to raise money for putting in new sewers.
3. Exchange goods without involving money.
4. A situation in which unlimited wants exceed the limited resources available to fulfill those wants
5. A limiting factor on purchases

5 True/False questions

1. macro economics → deals with behavior and decision making by small units such as individuals and firms

          

2. open market → Exchange goods without involving money.

          

3. renewable resource → Any natural resource (as wood or solar energy) that can be replenished naturally with the passage of time

          

4. commodities → study of how people and societies use limited resources to satisfy unlimited wants; the management of scarcity and choice

          

5. trade → Items businesses sell that can be physically weighed or measured, such as iPods and CDs.