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• Economie
• Middelbare school
• vwo
• Leerjaar 3

Economics

The need for scarce goods is always greater than the means available.

Economics

Free goods: no production factors are needed to produce the good, f.e. sunshine, rain

Scarce goods: production factors are needed to produce the good, f.e. bread, bicycles

So scarce is not the same as rare in economics.

Economics

Self-sufficiency: Making products yourself

Consume: buying goods ( tangible ) and services ( intangible ) to fullfill your needs

Capital

Labour

Nature

Entrepeneurship

a hammer

land

car mechanic

Elon Musk

I: The fridge in your kitchen is a consumer good
II: The fridge in a restaurant is a consumer good

1. I and II are true
2. I is true, II is false
3. I is false, II is true
4. I and II are false

Give the answer to exercise 15 on page 11

Answer

Water is allready a scarce good because production factor have been used to produce it

Do exercise

16-17

1-5 from section 2

Budgetline

Exercise

6-8 on page 14