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____________ is the value of the next best alternative that you were not able to choose.
Command economy
Where will the goods and services be produced?
Opportunity cost
reviewing the decision that was made.
capital
Freedom of Choice
the humans producing goods/services.
Scarcity
Human Resources are:
Command economy
Where will the goods and services be produced?
Opportunity cost
reviewing the decision that was made.
capital
Freedom of Choice
the humans producing goods/services.
Scarcity
__________refers to the concept that you can make economic decisions independently, without government intervention, but you also must accept the consequences of those decisions.
Command economy
Where will the goods and services be produced?
Opportunity cost
reviewing the decision that was made.
capital
Freedom of Choice
the humans producing goods/services.
Scarcity
The final step in the decision making process is
Command economy
Where will the goods and services be produced?
Opportunity cost
reviewing the decision that was made.
capital
Freedom of Choice
the humans producing goods/services.
Scarcity
_____________ is not having enough resources to satisfy every need.
Command economy
Where will the goods and services be produced?
Opportunity cost
reviewing the decision that was made.
capital
Freedom of Choice
the humans producing goods/services.
Scarcity
Government officials decide what and how goods are produced and how they will be distributed and consumed.
Command economy
Where will the goods and services be produced?
Opportunity cost
reviewing the decision that was made.
capital
Freedom of Choice
the humans producing goods/services.
Scarcity
All of the following are economic questions asked of a country when deciding on an economic system:
Command economy
Where will the goods and services be produced?
Opportunity cost
reviewing the decision that was made.
capital
Freedom of Choice
the humans producing goods/services.
Scarcity
Thomas is looking to buy a new printer for his sign business. This is a ______ resource.
Command economy
Where will the goods and services be produced?
Opportunity cost
reviewing the decision that was made.
capital
Freedom of Choice
the humans producing goods/services.
Scarcity
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