A person who uses a new idea to bring out a product or service to the marketplace is known as:

A person who purchases a good or service

Extras that make life more enjoyable

How much of a good or service consumers want

The highest-valued alternative that must be given up when you make a choice.

There are 4 _______________. They are land, labor, capital and entrepreneurship.

Which of the following is an example of an investment in human capital?

Man-made resources used in the production process i.e. machines in a factory.

The situation in which unlimited wants exceed the limited resources available to fulfill those wants.

The payments for land, labor, capital, and entrepreneurial ability respectively are:

A factory building is considered to be part of which of the following factors of production?

Economics is the study of...….

The opportunity cost of a good is.......

The payment made by an employer to an employee is called _____.

Which of the following is not a resource as the term is defined by economics?

Which term is used to describe the study of how people make decisions in a world where resources are limited?

The machines and robots at the E.Tech Smart building are an example of ________.

When we know the quantity of a product that buyers wish to purchase at each possible price, we know

Goods naturally found on the earth