CE 11a - Economic Concepts

This is what is given up when a choice is made:

The interaction involved in this concept determines price:

The combining of human, natural, capital & entrepreneurship resources to make goods & services:

The amount of money exchanged for a good or service is called:

Things that incite or motivate a change in economic behavior are called:

Selection of an item or action from a set of possible alternatives is called:

What is the best way to describe Mr. Kiser's beard?

The use of goods & services, determining what is purchased and used up:

The inability to satisfy all wants at the same time is called:

Factors of production that are used in the production of goods and services are called: