It is the condition that exists when there are not enough resources to satisfy all of the competing uses.

They are items people purchase to satisfy their needs and wants, such as food, shelter, and clothing

As a result of scarcity, you are forced to make ________________, which occur when you give up something to gain something else

The value of the next best alternative other than the choice that was made.

According to the chart, what is the opportunity cost to move from point C to point A?

Government ownership and allocation of resources best represents a

An economic system in which two parties exchange goods or services. In the end, both parties benefit.

Which question is FALSE concerning the 3 basic economic questions

Which is NOT included in one of the 4 factors of production