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- Multiple ChoicePlease save your changes before editing any questions.
It is a social science that examines how people choose among the alternatives available to them.
Entrepreneurship
Economics
Scarcity
Shortage
- Multiple ChoicePlease save your changes before editing any questions.
It is the branch of economics that focuses on the choices made by individual decision-making units in the economy typically consumers and firms and the impacts those choices have on individual markets.
Macroeconomics
Scarcity
Shortage
Microeconomics
- Multiple ChoicePlease save your changes before editing any questions.
It is the branch of economics that focuses on the impact of choices on the total, or aggregate, level of economic activity. It analyzes the broad aspects of a country’s economy.
Microeconomics
Scarcity
Oikonomia
Macroeconomics
- Multiple ChoicePlease save your changes before editing any questions.
It is the situation in which available resources, or factors of production, are finite, whereas wants are infinite
Shortage
Opportunity Cost
Scarcity
Choice
- Multiple ChoicePlease save your changes before editing any questions.
It is your second choice-what you give up when you make a decision.
Choice
Opportunity Cost
Scarcity
Shortage
- Multiple ChoicePlease save your changes before editing any questions.
The decisions which are made by firms, individuals, and or governments regarding which needs and wants to satisfy, and what types of products and services should be produced and bought.
Choices
Opportunity Cost
Scarcity
Shortage
- Multiple ChoicePlease save your changes before editing any questions.
The natural resources that people use: Forests, pasture land, minerals, water, etc. are products used in the production of goods and services, come from the earth.
Labor
Land
Capital
Entrepreneurship
- Multiple ChoicePlease save your changes before editing any questions.
Goods made by people to be used specifically to produce goods and services: Tools, office equipment, roads, factories, etc.
Labor
Land
Entrepreneurship
Capital
- Multiple ChoicePlease save your changes before editing any questions.
The human ability to produce a good or service: Talents, skills, physical labor, etc. the work that goes into the production of a good or service.
Human resources or Labor
Land
Capital
Entrepreneurship
- Multiple ChoicePlease save your changes before editing any questions.
This is basically the ideas that go into the process of creating a good or providing a service.
Capital
Entrepreneurship
Land
Labor
- Multiple ChoicePlease save your changes before editing any questions.
An unemployed factory worker is under what factor of production?
Labor
Capital
Natural resource
Land
- Multiple ChoicePlease save your changes before editing any questions.
The library building on your campus is under what factor of production?
Labor
Capital
Land
Entrepreneurial Skills
- Multiple ChoicePlease save your changes before editing any questions.
An untapped deposit of natural gas is under what factor of production?
Natural Resource
Capital
Labor
Land
- Multiple ChoicePlease save your changes before editing any questions.
The local power plant is under what factor production?
Labor or Human resources
Capital
Land
Entrepreneurship
- Multiple ChoicePlease save your changes before editing any questions.
Rizal Park is under what factor of production?
Land
Capital
Natural Resource
Entrepreneurship