Chapter 1 econ

Land, labor, capital, and entrepreneurship are the ...

A country's production possibilities will grow if it

An entrepreneur is a

Thinking at the margin means deciding about

The phrase that describes military goods and consumer goods

What shows all the alternative ways to use your resources?

Giving up one alternative for another.

The study of how people seek to satisfy their wants and needs by making choices is........

What occurs when people have trouble supplying goods and services at current prices?

Unlimited wants with limited resources is.......

Using resources in a way as to maximize the production of goods and services is called..

Equipment, tools, buildings (any item used to produce other goods)

which type of cost incurs when you choose to ride a bike rather than skateboard.