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2 Written questions

2 Multiple choice questions

  1. exchange take place typically between sellers, markets and buyers
  2. things that are produced and then used in the production of other goods and services.

2 True/False questions

  1. production possibility frontierthe process that transforms scarce resources into useful good and services.

          

  2. factors of productionthe process that transforms scarce resources into useful good and services.

          

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