At many different levels, the existence of _____ forces people to make choices.

To improve its standard of living, a nation’s economy must

Why do public goods demonstrate the limitations of a free market economy?

A news magazine carries an article about the U.S. economy. It describes how the economy grew for several years. Then it describes a long period of contraction. What is the main subject of this article?

What was the trade-off of the Soviet Union’s focus on heavy industry?

You bought two new CDs with the last $30 in your checking account, and your next payday is on Monday. What is the opportunity cost of these CDs?

What does the expression “the customer is king” mean in a free market economy?

A town wants to repair a school in one of its poorest neighborhoods. To pay for it, citizens vote to raise taxes on households and businesses. What social goal best explains this economic decision?

Why does the government protect inventors and authors by offering them patents and copyrights?

Why does every decision involve trade-offs?

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