The three basic economic questions are:

value added by having a product at a certain time of year or a convenient time of day is:

value added by exchanging a product for some monetary value

a tangible item such as a CD player or a soccer ball

intangible items such as going to the circus

The point on a supply and demand curve where quantity demanded is equal to the quantity supplied

The economic resource that includes all natural resources found in the earth, sea, and air

a form of government where there is increased government involvement and everything is based on the welfare of the people

the study of how to meet unlimited wants with limited resources

Value added by having a product where customers can buy it is

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