Intro to Business Final Review 2

The means through which goods and services are produced are called

• economic resources
• needs
• spending opportunities
• economic choices

Employees can be considered a capital resource.

• true
• false

The higher the price, the higher the producer's profits. 

• true
• false

The value of the next-best alternative that you did not choose is called a trade-off. 

• true
• false

The main cause of unemployment is reduced demand for the goods and services being provided by various workers. 

• true
• false

Higher borrowing would most likely cause a budget surplus for government. 

• true
• false 

Advertising is any form of communication used to inform, persuade, or remind. 

• true
• false

The total amount owed by the federal government is called the budget surplus. 

• true
• false

Corporations may sell stock. 

• true
• false

In the United States, the labor force consists of all people above age 18 who are actively working or seeking work. 

• true 
• false