question
Economics is a social science that involves the study of how individuals choose among alternatives to satisfy their _______, which are what people would buy if their incomes were ____.
answer
Wants, Unlimited
question
________, the study of the decision-making processes of individuals/households and firms, and ______, the study of the performance of the economy as a whole, are the two main branches into which the study of economics is divided.
answer
Microeconomics, Macroeconomics
question
The three basic economic questions are ______ and how ______ will be produced, ______ will items be produced, and for _____ will the items be produced
answer
What, Much, How, Who
question
The two opposing sets of answers are offered by alternative economy systems: (1) centralized _____ and (2) price/market system
answer
command and control,
question
In economics, we assume that people _______ make decisions that will leave them ______ off
answer
intentionally, worse
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