The result of an inability to satisfy all of everyone's wants

Physical products businesses produce; tangible items of value

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

In market economies, the reason for increasing, profit, interest, wages, and rent

All of the following are factors of production EXCEPT

Production of a limited variety of products by a business, region, or country

A system in which the basic economic questions are generally answered by the government

Using markets as the primary means of organizing and coordinating production, is what type of system?

A governmental ban on trade with one or more other nations

A business organization that is owned by two or more people

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