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Economics Basics #1 Flashcards | StudBud

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Specialization requires

Which of the following does scarcity apply to?

Economics Basics #1

5 terms·StudBud Administration·33 plays

#economics, #middleschooleconomics

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Questions 5

Answers

1
Which of the following does scarcity apply to?
businesses
countries
individuals
ALL
2
Specialization requires
productivity
ALL
prosperity
concentration
3
Opportunity costs are types of trade-offs.
TRUE
FALSE
4
Which problem does economics try to solve?
limited resources and unlimited wants
unlimited needs and limited wants
unlimited resources and limited wants
none of the answers is correct
5
Which of the following is NOT a factor of production?
human resource
capital resources
business owner
natural resources