| A | B |
|---|
| Cost of the next best use of your time or money when you choose to do one thing rather than another. | opportunity costs |
| People who provide labor, knowledge and skills. | human resources |
| Pollution-free air means less driving. | trade-off |
| Way most goods and services are distributed in the United States. | price system |
| What is the loss of years of income resulting from the decision to go to college? | opportunity cost |
| What is an opportunity cost of cleaning your room? | 1) Being able to have friends over 2) Being able to do other activities |
| What are two examples of resources? | 1) Tools 2) Natural resources(water, wood, soil) 3) Human resources(labor skills , goods and services) |
| What is the total cost, if the fixed cost of producing dresses are $1,000 and the variable costs are $500? | $1500.00 |
| Used in making goods and providing services. | resources |
| What three economics choices does society face? | 1) What to make 2)How to make it 3) For whom to make it |
