Chp.1.1 Quiz

Societies are faced with which three basic questions about production of goods.

• What, how, and why

• what, where, and when

• what, how, and for whom

• when, where, and for whom

A can of soup is an example of a

• durable good

• nondurable good

• capital good

• service

A car is an example of

• durable good

• nondurable good

• capital good

• service

Which of the following helps determine something's value?

• Utility

• beauty

• scarcity

• both A and C