1 out of 1 points
Items that are necessary for survival are called
Answer
Selected Answer: needs
Correct Answer: needs
Question 2
1 out of 1 points
Materials that come from nature such as water, coal and timber are examples of
Answer
Selected Answer: natural resources
Correct Answer: natural resources
Question 3
0 out of 1 points
The economy of the United States is often described as
Answer
Selected Answer: A market economy
Correct Answer: A mixed economy
Question 4
1 out of 1 points
Opportunity cost is the value of the
Answer
Selected Answer: best alternative you gave up
Correct Answer: best alternative you gave up
Question 5
1 out of 1 points
Suppose you can purchase milk for $3 a gallon or eggs for $1.50 per dozen. Your opportunity cost of a gallon of milk is:
Answer
Selected Answer: two dozen eggs
Correct Answer: two dozen eggs
Question 6
1 out of 1 points
According to Adam Smith, the source of a nation's material wealth is
Answer
Selected Answer: The productivity of the resources at the disposal of firms to produce goods and services.
Correct Answer: The productivity of the resources at the disposal of firms to produce goods and services.
Question 7
1 out of 1 points
Your financial goals should be
Answer
Selected Answer: specific
Correct Answer: specific
Question 8
1 out of 1 points
A positive benefit of an unintended consequence might be called a
Answer
Selected Answer: windfall
Correct Answer: windfall
Question 9
1 out of 1 points
An opportunity cost occurs
Answer
Selected Answer: whenever you make a choice
Correct Answer: whenever you make a choice
Question 10
1 out of