EMCC Micro econ final exam 2023 with 100% correct answers

economics - correct answeris the study of how individuals and societies use their limited resources to try to satisfy their unlimited wants. scarcity - correct answeris the problem that human wants exceed the production possible with the limited resources available. resources - correct answerare the inputs that make production possible land - correct answerrefers to the naturally occurring resources. capital - correct answerrefers to produced goods that are used in the production of other goods opportunity - correct answercost is the value of the best alternative surrendered when a choice is made. macroeconomics - correct answerfocuses on overall economic behavior microeconomics - correct answerfocuses on components of the economy positive - correct answerstatements claim to describe the way things are. slope - correct answerthe------ of a curve is the ratio of the vertical change to the horizontal change as the graph is read from left to right. scarcity - correct answerThe problem that human wants exceed the production possible with the limited resources available is: scarcity - correct answerThe basic e