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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
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.
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