Economics - October Sky Vocabulary Quiz

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

All of the following are factors of production EXCEPT

This is the selecting of an item or action from a set of possible alternatives.

In market economies, the reason for increasing, profit, interest, wages, and rent

A governmental ban on trade with one or more other nations

A business organization that is owned by two or more people

Production of a limited variety of products by a business, region, or country

Using markets as the primary means of organizing and coordinating production, is what type of system?

The result of an inability to satisfy all of everyone's wants