In economic language,when a resource is used to produce output it is referred to as a ________.
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Q13: Economists speak of using resources to satisfy
Q14: In economic language,"wants"
A)is another term for needs.
B)refer
Q15: Scarcity exists because human wants _.
Q16: Which of the following statements about scarcity
Q18: In producing goods and services,trade-offs exist between
Q19: In economics,the things that people would consume
Q20: Economists do NOT refer to individual resources
Q21: Economics can usefully be defined as
A)the process
Q22: The most basic concept in economics is
A)wealth.
B)income.
C)scarcity.
D)spending.
Q22: Physical capital includes
A)training programs for workers.
B)improvements to
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