EC-006 Posttest

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

Water and air are examples of __________ resources, while people are considered to be __________ resources.

natural;human

Why are resources considered limited?

There are not enough available for everyone to have as much as them as desired.

Friendship would be considered a(n) __________ want.

noneconomic

A gap between unlimited wants and limited resources creates

scarcity.

John only had $40 to spend and couldn't decide whether to buy a new pair of jeans or to go to an amusement park. He finally decided to spend his money on the amusement park. What was the opportunity cost of his decision?

New pair of jeans

Which one of the following groups of words best describes wants:

Unlimited, changing, and competing

Seeing a movie at a theatre would be considered a(n) __________ want.

economic

Into what two categories can wants be divided?

economic and noneconomic

Michelle is trying to decide which goods and services to purchase so that she can get maximum satisfaction. Michelle is

economizing

In economics, capital goods include

buildings and equipment


संबंधित स्टडी सेट्स

Multiple Endocrine Neoplasia (MEN)

View Set

ČJ - test z indoevropských j. a jazykovědy

View Set

The Notorious Jumping Frog of Calaveras County

View Set

Chapter 14 Money, Banks, and the Fed Reserve System

View Set

Adaptive Quiz - Physiological Care under Fundamentals (intermediate Level)

View Set

Theory 1 Module 9 Diabetes Ultimate set

View Set

A&P- Ch. 22: The Respiratory System; Chapter 17: Cardiovascular System-Blood

View Set

Meat Science - 4 BEEF PRIMAL CUTS AND MUSCLE BIOLOGY

View Set

Management 300 Dr. Steven Brown Monday Night class

View Set