Econ Chapter 1

The fact that we have limited resources to meet unlimited wants is known as:

Alternative ways to use productive resources are known as: 

What is the maximum combination of production known as?

When an economy is experiencing growth, what happens to the production possibilities curve?

Which of the following is NOT a factor of production:

The fact that, at a point, any additional cost will not give as much benefit is known as:

Things that can be owned and are tangible are known as:

The item you give up when you make a choice is known as a/an:

The study of how people satisfy their needs and wants is known as:

Using fewer resources than the economy is capable of is known as: