Economics Quiz 04 Preparation Online

1. Inputs are combined with technology to produce outputs. The fundamental inputs (also called factors of production) are ?

 

2. The central role of markets is to determine the ?

 

3. When analyzing the impact of a variable on the economic system, the other things ?

 

4. Goods produced to produce yet other goods is called ?

 

5. Consider a world without scarcity of resources. Then what would be the consequences ?

 

6. The value of the good or service forgone by choosing another investment is called ?

 

7. Who is considered the founder of modern Macroeconomics ?

 

8. Which economic term is used to represent inequality in income distribution ?

 

9. Who is considered the founder of Microeconomics ?

 

10. The fundamental concept of Economics about resources is that the resources are ?