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- What is an economist and what do they study?
- Identify both goods and services and what distinguishes the two.
- Identify what a producer is, and how that individual relates to both goods and services.
- Recognize the unique characteristics of conspicuous consumption.
- What is the production possibilities curve?
- Identify the consumer in the market, and the motivations for the consumer to act in a particular manner.
- Identify economics resources.
- Define capital and capital goods.
- Define and identify examples of a consumer good.
- Identify the three basic questions of economics.
- What are the real costs involved in the construction of a home?
- Identify and define what human resources are in terms of production.
- What is a trade-off and how does the concept relate to your personal life?
- What type of role does the U.S. government play in the production of goods and services within out country?
- Describe how opportunity cost relates to economic choice.
- How does opportunity cost relate to college?
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