Bellringers Chapter 1

( There will be more in class but this is the minimum) So, for full credit the bellringers must be done everyday in class.

1. What is the difference between a need and a want?
2. How do people satisfy their wants and needs?
3. What are the three types of economic resources? Give an example of each type of resource.
4. What did you like about the student kickoff last Friday?
5. What is opportunity cost?
6. What are the six steps in the decision-making process?
7. What are your plans for the long weekend?
8. What are the three economic questions?
9. What are the main differences among the three economic systems?
10. Name the four principles of the U.S. economic system.
11. How does the price of a product affect demand and supply?

Chapter 1