Economics

Which answer means limited amount of resources?

• Opportunity

• Scarcity

• Demand

• Productivity

What type of Economy does the USA have?

• Market Economy

• Traditional Economy

• Command Economy

• Mixed Economy

Combining human, natural, and capital resources to make goods is known as __________.

• Production

• Resourcing

• Consumption

• Demand

In which type of economy does the government own and control much of the property and resources?

• Market Economy

• Traditional Economy

• Command Economy

• Mixed Economy

the factors of production that are used in the

production of goods and services

• Human Resources

• Resources

• Natural Resources

• Capital Resources

are the people required to do make goods or provide services

• Human Resources

• Resources

• Natural Resources

• Capital Resources

are things found in nature that are needed to provide goods or services

• Human Resources

• Resources

• Natural Resources

• Capital Resources

are resources are man-made tools or equipments that is needed in production of goods or services.

• Human Resources

• Resources

• Natural Resources

• Capital Resources

All resources and goods are limited. This causes an inability to satisfy all of your wants at the same time.

• Choice

• Opportunity Cost

• Scarcity

• Demand

It is what is given up when a choice is made. Every choice that you make costs you something. For example, when you spend your money on buying new shoes, you may not be able to buy the new outfit at the mall.

• Choice

• Opportunity Cost

• Scarcity

• Demand