Economics - Scarcity and Factors of Production

Which of the following is NOT a need?

Lumber or timber is an example of which factor of production?

Factories and tools are examples of which factor of production?

A cellphone is a need.

Construction workers are an example of which factor of production?

The income people receive for supplying factors of production are known as:

Which of the following is a good?

What does scarce mean?

The study of how people use scarce resources to satisfy unlimited wants and needs.

A want is something you can't live without?

Which of the following is a service?

Which is NOT a factor of production?

In economics, things used to make goods and services are:

During the COVID-19 pandemic, Americans experienced which economic term pictured below:

Business owners are examples of which factor of production?