Resources and goods are limited, but human wants are ____.

Which word means that there is never enough to match the total of what everyone wants?

Which word means selecting an item or an action from a set of all the possible alternatives?

Who has to deal with scarcity and choice?

What is the term for the SECOND CHOICE - the choice you give up when you choose an item or action?

You have a choice of doing your homework or going shopping. You do your homework. What is the opportunity cost of doing your homework?

What type of resources are water, trees, land, wheat, iron, and oil?

What type of resources are labor, skills, talent, and education?

What type of resources are tools, machinery, buildings, and trucks?

What type of resources are people who can get a business going?

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