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7 Written questions

6 Multiple choice questions

  1. Budget of U.S.
  2. not being able to purchase what we want
  3. Micro and Macro
  4. the difference between what it costs to make the item and what it is sold for
  5. person who puts together the first three factors of production (owns business)
    Cost=profit
  6. study of how we fulfill unlimited wants with limited resources

6 True/False questions

  1. Interestmoney paid to use someone elses money

          

  2. Profit Marginthe difference between what it costs to make the item and what it is sold for

          

  3. Natural Resourcesland, building, and materials that go into the production of the product; Cost=rent

          

  4. Trade-Offbuying something less expensive to meet a need

          

  5. limited resourcespeople who make the product or are involved;
    cost=wage

          

  6. What are the 4 economic systems?Traditional, Command, Free Market, and Mixed