Economics Unit Quiz 1

Identify the science that deals with the production, distribution, and consumption of commodities.
What is another way to describe commodities?
Which branch of economics deals with the performance, structure, behavior, and decision making of an economy as a whole?
Which branch of economics studies the behavior of individuals and firms in making decisions regarding the allocation of scarce resources?
In addition to the United States, which nation (in 2014) had a nominal GDP of 5000 Billion U.S. dollar or more?
(through 8.) List the three types of macroeconomic systems with regards to who makes the decisions about economic activities.
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Economic resources are commonly called another term. What is it?
Which factor of production is described by the natural resources utilized for production?
Which factor of production is described by the human capital available to produce?
Which factor of production is described as the monetary resources and infrastructure available to facilitate production?
Which factor of production is described as “putting the others together” and sometimes considered a type of Labor?