6 Written Questions

1. The inibility to satisfy everyone's wants
2. A social Science
3. The next best thing, given up to make a choice
4. Machinery and tools
5. An arangement that allows people to make exchanges with one another.
6. When voluntary exchange in markets is the primary way of organizing the production of goods and services.

5 Multiple Choice Questions

1. the study of the economy as a whole big picture
   1. macroeconomics
   2. microeconomics
   3. Economics
   4. Market Economy
2. Graphs show alternative ways to use an economy's resources
   1. Basic Economic Decisions
   2. Opportunity Cost
   3. Factors of Production
   4. Production Possibility Frontier
3. Land, Labor, Capital
   1. Captial Resources
   2. Factors of Production
   3. microeconomics
   4. macroeconomics
4. every choice involves benefits and costs
   1. Scarcity
   2. Economics
   3. Goods
   4. Trade-offs
5. the study of individual consumers
   1. microeconomics
   2. Economics
   3. Market Economy
   4. macroeconomics

5 True/False Questions

1. Goods → Items of value that can be seen and touched

   True        False

2. Services → The inibility to satisfy everyone's wants

   True        False

3. Entrepenuer → Items of value that cannot be seen and touched

   True        False

4. Basic Economic Decisions → the study of individual consumers

   True        False

5. Free Enterprise → another name for a market economy

   True        False