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6 Written questions

6 Multiple choice questions

  1. is about facts
  2. contains opinion
  3. the price of a good service is too low and at the lower price too many want to buy.
  4. value of what you give up or what you trade off
  5. same factors to produce goods, such as land, labor, capitol and entrepreneurship
  6. every decision we make has a cost and most desirable alternative given up as the result of a decision

6 True/False questions

  1. commoditybushes of oats, wheat, corn, cotton, oil, sorghum


  2. gunsmilitary goods, buildings factories, equipment, business computers


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


  4. marginal utilitya lack of wants


  5. buttermilitary goods, buildings factories, equipment, business computers


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