The inability to satisfy all wants at the same time is known as?

These are factors of production that are used in the production of goods and services. Types of ________ are natural, human, capital, and entrepreneurship.

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

This is what is given up when a choice is made—i.e., the highest valued alternative is forgone

This is the amount of money exchanged for a good or service.

These are things that incite or motivate. ________ are used to change economic behavior.

This is the amount of a good or service that consumers are willing and able to buy at a certain price.

This is the amount of a good or service that producers are willing and able to sell at a certain price.

Interaction of supply and demand determines __________?

The combining of human, natural, capital, and entrepreneurship resources to make goods or provide services is known as__________.

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