Products and money used in the production of goods and services are called natural resources.

The first step in the economic decision-making process is to evaluate the advantages and disadvantages of each choice.

In a market economy, buying decisions are made by consumers.

If many consumers want a particular service, its price will probably go up.

Tangible products you can purchase to meet your wants and needs are called goods.

Competition forces businesses to search for new ways to satisfy customers' wants and needs.

Supply is the quantity of a good or service that a consumer is willing and able to buy at a particular price.

The means through which goods and services are produced are called

All of the following are capital resources EXCEPT

The value of the next-best alternative that you did not choose is called

When a country decides to focus on advanced technology and a skilled labor force, it is primarily answering which of the basic economic questions?

Which of the following is NOT characteristic of a capitalistic economy?

Which of the following is a consumer?

The basic economic problem is

If freezing weather damages orange crops in Florida