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What is the difference in a consumer and a producer?
human, natural, and capital
the combining of human, natural, capital and entrepreneurship resources to make goods or provide services
2 because you are choosing or deciding yes to one a chooshing or saying no to another choice
consumers buy and producers make things for the consumer to buy
opportunity cost
consumer preference by what is purchased and consumed
opportunity cost
scarcity
What forces consumers, producers, and government decision makers to make choices?
human, natural, and capital
the combining of human, natural, capital and entrepreneurship resources to make goods or provide services
2 because you are choosing or deciding yes to one a chooshing or saying no to another choice
consumers buy and producers make things for the consumer to buy
opportunity cost
consumer preference by what is purchased and consumed
opportunity cost
scarcity
What is production?
human, natural, and capital
the combining of human, natural, capital and entrepreneurship resources to make goods or provide services
2 because you are choosing or deciding yes to one a chooshing or saying no to another choice
consumers buy and producers make things for the consumer to buy
opportunity cost
consumer preference by what is purchased and consumed
opportunity cost
scarcity
What do we call the second-best choice?
human, natural, and capital
the combining of human, natural, capital and entrepreneurship resources to make goods or provide services
2 because you are choosing or deciding yes to one a chooshing or saying no to another choice
consumers buy and producers make things for the consumer to buy
opportunity cost
consumer preference by what is purchased and consumed
opportunity cost
scarcity
What determines the price of a good or service?
human, natural, and capital
the combining of human, natural, capital and entrepreneurship resources to make goods or provide services
2 because you are choosing or deciding yes to one a chooshing or saying no to another choice
consumers buy and producers make things for the consumer to buy
opportunity cost
consumer preference by what is purchased and consumed
opportunity cost
scarcity
When you make a choice how many choices are you actually making?
human, natural, and capital
the combining of human, natural, capital and entrepreneurship resources to make goods or provide services
2 because you are choosing or deciding yes to one a chooshing or saying no to another choice
consumers buy and producers make things for the consumer to buy
opportunity cost
consumer preference by what is purchased and consumed
opportunity cost
scarcity
What you do not choose is called - ?
human, natural, and capital
the combining of human, natural, capital and entrepreneurship resources to make goods or provide services
2 because you are choosing or deciding yes to one a chooshing or saying no to another choice
consumers buy and producers make things for the consumer to buy
opportunity cost
consumer preference by what is purchased and consumed
opportunity cost
scarcity
What are the three types of resources?
human, natural, and capital
the combining of human, natural, capital and entrepreneurship resources to make goods or provide services
2 because you are choosing or deciding yes to one a chooshing or saying no to another choice
consumers buy and producers make things for the consumer to buy
opportunity cost
consumer preference by what is purchased and consumed
opportunity cost
scarcity
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