Real ECON Exam 🏆

Resources are _________.

• Scarce
• Plentiful

People ___________ have everything they want.

• can
• can't

A pair of $150 Nike shoes is an example of a ____________.

• need
• want

Every choice involves a(n) __________.

• opportunity cost
• benefit

People's skills and knowledge are examples of ___________ resources.

• capital
• human
• Natural

When you buy clothes, you are buying a ____________.

• good
• service

If you decide to play basketball, your next best alternative choice (example: watching TV instead) would be called the __________.

• Opportunity Cost
• Tradeoff
• Resource
• Needs and Wants

Housing and food are examples of __________.

• Wants
• Needs
• Services

Water& Trees are ___________ resources.

• Capital
• Human
• Natural

The garbage man provides a __________.

• Good
• Service
• Natural Resource