Which of the following illustrates an economic response to the problem of scarcity?
Economics is the study of how people manage _________________.
When you go to the barber to get a haircut, you are consuming ________________.
When you and your family go out to eat in a restaurant, you are consuming __________________.
Which of the following would be an example of a consumer?
A karate instructor that teaches self defense to people in his backyard for a small fee, would be considered ________________.
Which of the following would be considered a NATURAL resource.
The skills and talent of a professional basketball player would be considered which of the following factors of production?
What sort of physical capital would a carpenter need to build a house?
The conflict between unlimited desire or demand and a limited amount of resources.
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