Econ and Fin. Lit. Chapter 1 Review

Which of the following COULD be the opportunity cost of attending school for 6 hours

The main problem that drives the study of economics is

When you make a choice, you had to give up something else. That something else is the ______________of your decision.

Because of scarce resources, society is forced to make difficult ___________about what to make?

What is happening at point "1" on the following graph?

Which point along the PPC is the "best" point?

The graph that shows opportunity cost is a?

When you have to give up some of one item to get more of another item

Which of the following is not a factor of production?

The main economic problem is?

What is happening at point "2" on the graph?

Goods that are used to produce consumer goods are known as?

An example of capital, one of the factors of production, would be?

Teachers, plumbers, farmers, chefs are all considered to be ________________. One of the four production factors.

What is the maximum number of TV we can make if we make ZERO radios?

how many radios are given up when we move from point "A" to point "C?"