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2 Written questions

2 Multiple choice questions

  1. exchange take place typically between sellers, markets and buyers
  2. a graph that shows all the combinations of goods services that can be produced if all of society's resources are used efficiently.

2 True/False questions

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


  2. productionthings that are produced and then used in the production of other goods and services.