ECON Unit 2 Exam Review

Match it! Select the correct answer from the pull down...Good luck!

__________________is the basic economic problem.

Whatever option(s) you give up by making a decision is called...

We must make decisions because resources are...

_____________is the allocation method where the politicans control the distribution of goods and services.

Individuals or businesses distribute goods and services. This define the________________method of allocation.

Scarcity and shortage have different meanings.

____________________believed in a free market people looking out for themselves in return helps society to use its resources more productively.

Applying resources to make one item means there is more of another item.