What term is the condition that results from society not having resources to produce all the things people would like to have (wants/needs).

What is the main difference between a want and a need?

Which of the following is NOT a question that is asked because of the concept of scarcity?

Match the following factors of production with the correct definition.

What is the correct term for the following defintion: The most comprehensive measure of a country's total output and a key measure of a nation's economic health.

Match the following examples with the correct factors of production.

Match the following terms with the correct definitions.

Who came up with the concept that we know of as the "paradox of value"?

What is the correct term for the following defintion: Apparent contradiction between the high value of a nonessential item and the low value of an essential item.

Match the following terms with the correct defintion.