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7 Written questions

6 Multiple choice questions

  1. money paid to use someone elses money
  2. cost of 1 item in terms of another item
  3. land, building, and materials that go into the production of the product; Cost=rent
  4. people who make the product or are involved;
    cost=wage
  5. the difference between what it costs to make the item and what it is sold for
  6. Natural Resources, Human Resources, Capital, and Enterpernuership

6 True/False questions

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

          

  2. Entrepreneurshipperson who puts together the first three factors of production (owns business)
    Cost=profit

          

  3. Economicsnot being able to purchase what we want

          

  4. Macropersonal budget

          

  5. MicroBudget of U.S.

          

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