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6 Written questions

6 Multiple choice questions

  1. try to maximize utility
  2. is about facts
  3. food, clothing, shoes, cars, and houses
  4. military goods, buildings factories, equipment, business computers
  5. graph that shows maximum combination of goods and services that can be
  6. a lack of wants

6 True/False questions

  1. opportunity costa lack of wants


  2. GDPgross domestic product(inside the U.S.) that should increase 2% or 4% a year


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


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


  5. shortagecontains opinion


  6. factors of productiontry to maximize utility


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