← Quiz #1 Test
6 Written Questions
5 Multiple Choice Questions
- Takes business riskes in hopes of earning a profit
- Items of value that can be seen and touched
- When voluntary exchange in markets is the primary way of organizing the production of goods and services.
- the study of individual consumers
- A social Science
5 True/False Questions
Captial Resources → Machinery and tools
Factors of Production → Land, Labor, Capital
Scarcity → An arangement that allows people to make exchanges with one another.
Basic Economic Decisions → the study of individual consumers
Services → Items of value that cannot be seen and touched