Economics Principles Quiz

The study of allocation of scarce resources (correct)

The science of home management

The study of how individuals satisfy unlimited wants with limited resources

The social science concerned with satisfying human wants

The circular movement of resources and production in an economy

The flow of income between households and firms (correct)

The circular movement of goods and services in an economy

The flow of money in and out of an economy

The allocation of resources in an economy

The maximum production attainable with current resources and technology

The trade-offs between two goods that an economy can produce (correct)

The level of production at full employment

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<p>The imbalance between unlimited wants and limited resources</p> Signup and view all the answers