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6 Written questions

6 Multiple choice questions

  1. value of what you give up or what you trade off
  2. deals with economics on a personal level and deals with individual households and businesses.(how a business maximized it's profits for ex.)
  3. military goods, buildings factories, equipment, business computers
  4. a lack of wants
  5. food, clothing, shoes, cars, and houses
  6. bushes of oats, wheat, corn, cotton, oil, sorghum

6 True/False questions

  1. shortagethe price of a good service is too low and at the lower price too many want to buy.

          

  2. consumer satisfactionsame factors to produce goods, such as land, labor, capitol and entrepreneurship

          

  3. economicsthe study of how people make choices on how to best use their limited resources to best satisfy their needs and wants

          

  4. opportunity costbushes of oats, wheat, corn, cotton, oil, sorghum

          

  5. production possibilities curvegraph that shows maximum combination of goods and services that can be

          

  6. macroeconomicsdeals with economics on a personal level and deals with individual households and businesses.(how a business maximized it's profits for ex.)

          

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