Grade 9 Economics - First Quarter Study Notes

A collection of fill-in-the-blank flashcards covering fundamental economic terms, influential economists, and resource management concepts from the Grade 9 First Quarter curriculum.

The primary problem of economics is __________.

Kakapusan

__________ is the social science referring to the full use of limited resources to meet the infinite needs and wants of society.

Ekonomiks

__________ is the primary problem of economics resulting from limited resource supply and infinite economic wants.

Scarcity

A situation where a resource is scarce in one area but sufficient in another is known as __________.

Relative Scarcity

__________ is recognized as the 'father of microeconomics.'

Alfred Marshall

__________ was a famous 18th-century Scottish philosopher and economist known as the 'father of economics.'

Adam Smith

__________ are alternative uses of resources that are set aside.

Trade-offs

Energy that is naturally replaced, such as solar and wind energy, is called __________.

Renewable Energy

The system of development rooted in the intelligent use of limited resources is called __________.

Likas-kayang Pag-unlad

The limited provision of the factors of production is known as __________.

Alokasyon

The __________ is a concept in economics describing how a society's resources are fully utilized.

Production Possibilities Frontier

The Market System (Sistemang Pamilihan) is a free economy promoted by the capitalism ideology of __________.

Adam Smith

__________ uses old technologies for production, such as the carabao and plow in farming.

Ekonomiyang Tradisyonal

__________ is the ability to organize and manage other production factors to make decisions, take risks, and innovate.

Entrepreneurship

The use of goods and services by a household is referred to as __________.

Pagkonsumo