Economics Fundamentals Quiz

Allocation

Macroeconomics

Scare Resources

Microeconomics (correct)

The limited supply of productive inputs or factors of production used to produce goods and services

The process of distributing or assigning limited resources among various competing uses, needs, or wants (correct)

The study of the aggregate performance of the entire economic system

The seemingly infinite number of desires, needs, and preferences for goods and services

The process of distributing or assigning limited resources among various competing uses, needs, or wants

The seemingly infinite number of desires, needs, and preferences for goods and services

The study of the aggregate performance of the entire economic system

The limited supply of productive inputs or factors of production used to produce goods and services (correct)

<p>The seemingly infinite number of desires, needs, and preferences for goods and services</p> Signup and view all the answers

<p>The seemingly infinite number of desires, needs, and preferences for goods and services</p> Signup and view all the answers