__________ is development that meets the needs of the present without compromising the ability of failure generations to meet their own needs .
Sustainable development
Economic development
Economic growth
Social development
The opportunity cost of a good is
The time lost in finding it .
The quantity of other goods sacrificed to get another unit of that good .
The expenditure on the good
The loss of interest in using savings .
_______ refers to investments in financial instruments,like stocks and bonds or the funds that are used to buy financial instrument like stock and bonds .
Physical capital
Financial capital
Human capital
Social capital
_________ is the situation in which available resources or factors of production are finite whereas wants are infinite .
Scarcity
Distribution of income
Production
Consumption
____ is used to produce more goods and service in the future .
Natural capital
In a free market
Governments intervene
Governments plan production
Government interfere
Prices adjust to coincide scarcity and desires .
Macroeconomics is the study of
Individual building blocks in the economy .
The relationship between different sectors of the economy .
Household purchase decisions
The economy as a whole
In the mixed economy
Economic problems are solved by the government and market
Economic decisions are made by the private sector and free market
Economic allocation is achieved by the invisible hand
Economic questions are solved by government departments .
The resources in an economy :
Are always fixed
Can never decrease
Always increase overtime
Are limited at any moment in time .
If an economy is productively efficient :
Every one is wealthy
Resources are unemployed
More of one product can only be produced if less of another product is produced .
The distribution of income is equal
