Duplicate of Duplicate of AOIS SOL 11a,b,12b Review

The using of goods and services

What is given up when a choice is made

What is the process of making goods and services?

A form of business where two or more owners share the risks and profits

A machine is an example of what type of resource?

The study of decisions that are made when resources are scarce

The Wendy's Restaurant building & the Flurry machine are examples of __________ resources.

Two brands competing. Chevy .vs. Ford is an example of this.

These resources include all goods that are used to produce other goods

These resources are all of the people who help produce or distribute

The inability to satisfy all wants at the same time

People doing the same job as their parents, grandparents. Often agricultural.

These resources come from nature - Lumber and Oil

Selecting an item or action from a set of possible alternatives

What type of economic system does the United states have?

The government owns all resources of production and the economy is centrally planned.