50 basic economic questions

1. What is economics?
2. What are the three basic economic problems?
3. What is scarcity?
4. What is opportunity cost?
5. What is a need?
6. What is a want?
7. What are goods and services?
8. What is production?
9. What is consumption?
10. What is distribution?
11. Supply and Demand
12. What is demand?
13. What is supply?
14. What is the law of demand?
15. What is the law of supply?
16. What is equilibrium price?
17. What happens when there is a shortage?
18. What happens when there is a surplus?
19. What factors affect demand?
20. What factors affect supply?
21. How does price affect quantity demanded?
22. Market and Business
23. What is a market?
24. What is competition?
25. What is monopoly?
26. What is an oligopoly?
27. What is perfect competition?
28. What is profit?
29. What is revenue?
30. What is cost?

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