1 A) a good education and adequate health care. B) luxuries such as new televisions, computers, and VCRs. C) things that people do not have. D) the basic, minimal things people must have to survive. 2 A) competing alternative uses for resources always exist. B) people are not willing to change their unlimited wants. C) we live in a world where poverty still exists. D) there will always be natural disasters to affect the production of goods and services. 3 A) human resources, labor, capital, and land. B) labor, capital, land, and natural resources. C) capital, land, entrepreneurship, and labor. D) land, labor, capital, and services. 4 A) fewer fit and healthy people. B) fewer colleges and universities. C) less garbage to dispose of. D) fewer employed people. 5 A) people and businesses how much of each item to produce. B) the maximum combinations of goods and services that can be produced from a fixed amount of resources in a given period of time. C) the trade-offs and opportunity costs of producing possible combinations of goods. D) all of the above. 6 A) Economic models cannot predict all the factors that might influence people's behavior. B) Economists use economic models to make value judgements about economic decisions. C) There may be many economic models for a particular problem. D) Economic models can simulate what would happen in the real world given certain economic circumstances. 7 A) individual human behavior is not always predictable. B) they deal with facts, and the facts change. C) their views are dictated by their governments. D) they have differing opinions, beliefs, and social views.
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