1.

(01.01 LC) The foundational problem underlying the study of all economics is (3 points)

	scarcity
	maximizing profit
	the fairest distribution of resources
	efficiency
	the law of supply

2.

(01.01 LC) Which of the following is an example of a factor of production in the category of land? (3 points)

	The work a farmer puts into his business
	Factory equipment
	A company's shares in the stock market
	A property inspector's report
	The natural rubber used to make tires

3.

(01.02 MC) Use the PPC below to answer the following question.

\fDominican Republic Cuba 50 Consumer Goods Consumer Goods 20 25 50 Capital Goods Capital Goods