Which of the following is a natural resource?

Economics is the study of how we make decisions in a world of limited ____.

What is an example of a fixed cost of doing business?

Which of the following is a want?

The four factors of production are natural resources, labor, capital, and ___.

Consumers earn their income in ___ markets where productive resources are bough and sold.

Capitalism is an example of a(n) ____.

Machines, buildings, and tools used to make others goods and services are ____.

The four sectors, business, consumer, government, and foreign are all part of ____.

In our economy businesses try to produce goods and services that people want most; this is an example of ____.

In a free enterprise economy, competition is allowed to flourish with a minimum of ___.

The income from a full time job that you give up when you go to college is ___.

What does microeconomics deal with?

When workers receive additional training for their jobs, this increases ___.

The total value of all the final goods and services produced in a country in one year is its ___.

A nation's standard of living is a measure of not only the quantity of its products, but also ___.

What is the formula for total costs?

Why do businesses use cost-benefit analysis?

The ___ between sellers keeps the cost of production low and quality of goods high.

The additional profit obtained from producing one more unit in a factory is called a(n) ____.

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