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Which of these is NOT an economic need?
What is a profit?
money left after paying expenses
money made from sales
money a business has lost
money used to pay expenses
Which of these is NOT an example of a good?
Scarcity occurs when everyone has enough resources to meet their needs and wants.
The main goal of every business is to
produce quality goods.
produce a large amount of goods.
ensure their customers are satisfied.
All of the following are examples of natural resources EXCEPT
What is another term for barter?
The value of all possessions a person or country has is called
As the price of a good/service goes up, consumers are less willing to buy it.
Which of the following is NOT an example of capital?
Which law says that as the price of a good goes down, consumers are more willing to buy?
Law of Supply
Law of Demand
Factor of Production
What is currency?
type of money
type of resource
type of profit
type of capital
Which of the following is NOT a factor of production?
What is another term for buyers?