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6 Written questions

6 Multiple choice questions

  1. gross domestic product(inside the U.S.) that should increase 2% or 4% a year
  2. graph that shows maximum combination of goods and services that can be
  3. the price of a good service is too low and at the lower price too many want to buy.
  4. the study of how people make choices on how to best use their limited resources to best satisfy their needs and wants
  5. same factors to produce goods, such as land, labor, capitol and entrepreneurship
  6. try to maximize utility

6 True/False questions

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


  2. opportunity costevery decision we make has a cost and most desirable alternative given up as the result of a decision


  3. individual trade offsvalue of what you give up or what you trade off


  4. marginal utilityper unit


  5. butterfood, clothing, shoes, cars, and houses


  6. commoditya lack of wants