Econ 1.2, and 3

Animals are classified as which of the following factors of production?

Things that can be felt or touched are

The marginal cost of something is

Labor refers to the physical and mental talents that people contribute to production.

High school athletes who choose not to attend college but instead select professional sports

People will do a particular activity only if the benefits are greater than the costs.

If your parents offer you cash for every A on your report card, that is an example of

When a society spends money on national defense, there is

People compete for whatever their society uses as a rationing device.

Labor refers to

Incentives can be both positive and negative.

The terms labor and entrepreneurship mean the same thing.

Most of the time our actions have only benefits, not costs.

Individuals face trade-offs but societies do not.

If you are making decisions at the margin, you are

Capital refers only to money.

A synonym for resources is factors of production.

One of the trade-offs of driving our cars is additional pollution.

The principal of your school is considered an entrepreneur.

Which of the following is an example of an incentive?