C13 Exam 1 with Answers (Ashworth College)
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D. the cost of bait, any other monetary expenses, and the value of the best alternative use of the<br />
individual's time<br />
Question 6 of 205.0/ 5.0 Points<br />
Because resources are limited, __________ .<br />
A. only the very wealthy can get everything they want<br />
B. firms will be forced out of business<br />
C. the availability of goods will be limited but the availability of services will<br />
not<br />
D. people must make choices<br />
Question 7 of 205.0/ 5.0 Points<br />
The effort used to coordinate the factors of production is a description of __________ .<br />
A. physical capital<br />
B. human capital<br />
C. labor<br />
D.<br />
entrepreneurship<br />
Question 8 of 205.0/ 5.0 Points<br />
Economics is best defined as the study of __________ .<br />
A. financial decision-making<br />
B. how consumers make purchasing decisions<br />
C. the choices made by people faced <strong>with</strong> scarcity<br />
D. inflation, unemployment, and economic
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