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What is Scarcity?
A Free Market
Command Economy
A person who purchases goods and services for personal use.
Obedience school
An economic term that describes the inputs that are used in the production of goods or services
How you solve the problem of limited resources and unlimited wants
Limited resources with unlimited wants
Land, Labour, Capital
What are the three Factors of production?
A Free Market
Command Economy
A person who purchases goods and services for personal use.
Obedience school
An economic term that describes the inputs that are used in the production of goods or services
How you solve the problem of limited resources and unlimited wants
Limited resources with unlimited wants
Land, Labour, Capital
What are the factors of Production?
A Free Market
Command Economy
A person who purchases goods and services for personal use.
Obedience school
An economic term that describes the inputs that are used in the production of goods or services
How you solve the problem of limited resources and unlimited wants
Limited resources with unlimited wants
Land, Labour, Capital
Which of the following is a service?
A Free Market
Command Economy
A person who purchases goods and services for personal use.
Obedience school
An economic term that describes the inputs that are used in the production of goods or services
How you solve the problem of limited resources and unlimited wants
Limited resources with unlimited wants
Land, Labour, Capital
An economic system in which business are allowed to produce any goods and services they wish to is referred to as ...
A Free Market
Command Economy
A person who purchases goods and services for personal use.
Obedience school
An economic term that describes the inputs that are used in the production of goods or services
How you solve the problem of limited resources and unlimited wants
Limited resources with unlimited wants
Land, Labour, Capital
What is a consumer?
A Free Market
Command Economy
A person who purchases goods and services for personal use.
Obedience school
An economic term that describes the inputs that are used in the production of goods or services
How you solve the problem of limited resources and unlimited wants
Limited resources with unlimited wants
Land, Labour, Capital
What is Economics?
A Free Market
Command Economy
A person who purchases goods and services for personal use.
Obedience school
An economic term that describes the inputs that are used in the production of goods or services
How you solve the problem of limited resources and unlimited wants
Limited resources with unlimited wants
Land, Labour, Capital
In the former Soviet Union consumers had to wait in long lines to buy everyday items like bread. They did not have many choices and the government controlled factories. What type of economy did they live in?
A Free Market
Command Economy
A person who purchases goods and services for personal use.
Obedience school
An economic term that describes the inputs that are used in the production of goods or services
How you solve the problem of limited resources and unlimited wants
Limited resources with unlimited wants
Land, Labour, Capital
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