The study of the allocation and creation of goods and services is called...

____________________believed in a free market people looking out for themselves in return helps society to use its resources more productively.

__________________is the basic economic problem.

Land,__________________, and entrepreneurship are the three factors of production.

Scarcity and shortage have different meanings.

Which of the followng do Production Possibliities Graphs show?

Which factor of production is defined as man made items?

Applying resources to make one item means there is more of another item.

___________________is the highest valued trade off in decision making.

We must make decisions because resources are...

Whatever option(s) you give up by making a decision is called...

________________means products are limited due to scarce resources

___________________is limited goods because the cost of production is high.

Customers who are first in line, get served first. What type of allocation method is this?

Goods and services distributed or controlled by one or a few through violence describes the ___________________method

_____________is the allocation method where the politicans control the distribution of goods and services.

Individuals or businesses distribute goods and services. This define the________________method of allocation.

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