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- 1. Fill in the Blank
a product which does not require any resources to
make it and so does not have an opportunity cost
- 2. Fill in the Blank
human effort used in producing goods and services
- 3. Fill in the Blank
spending on capital goods
- 4. Fill in the Blank
desires for goods and services
- 5. Fill in the Blank
risk bearing and key decision making in business
- 6. Fill in the Blank
a person who bears the risks and makes the key decisions in a business
- 7. Fill in the Blank
the best alternative forgone
- 8. Fill in the Blank
an arrangement which brings buyers into contact with sellers
- 9. Fill in the Blank
the study of the whole economy
- 10. Fill in the Blank
the willingness and ability to buy a product
- 11. Fill in the Blank
the addition of individual components to arrive at a total amount
- 12. Fill in the Blank
a product that can be used in place of another
- 13. Fill in the Blank
the willingness and ability to sell a product
- 14. Fill in the Blank
a payment by a government to encourage the
production or consumption of a product
- 15. Fill in the Blank
a payment to the government
- 16. Fill in the Blank
a product that is used together with another product
- 17. Fill in the Blank
goods and services produced by the factors of
production
- 18. Fill in the Blank
the output per factor of production in an hour
- 19. Fill in the Blank
total spending on capital goods
- 20. Fill in the Blank
human- made goods used in production
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