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5 Written questions

5 Matching questions

  1. competition
  2. factor market
  3. self-interest
  4. collective
  5. thinking at the margin
  1. a market in which firms purchase the factors of production from households
  2. b large farm leased from the state to groups of peasant farmers
  3. c deciding whether to do or use one additional unit of some resource (one more or less)
  4. d one's own personal gain
  5. e the struggle among producers for the dollars of consumers

5 Multiple choice questions

  1. the market in which households purchase the goods and services that firms produce
  2. the concentration of the productive efforts of individuals and firms on a limited number of activities
  3. requiring strict obedience to an authority, such as a dictator
  4. the financial gain made in a transaction
  5. industry that requires a large capital investment and that produces items used in other industries

5 True/False questions

  1. incentivelarge farm leased from the state to groups of peasant farmers


  2. factors of productionland, labor, and capital


  3. private propertyproperty owned by individuals or companies, not by the government or by the people as a whole


  4. marketan arrangement that allows buyers and sellers to exchange things


  5. 4thTechnology


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