__________ includes the physical and mental effort that people contribute to the production of goods and services .
Land
Labour
Capital
Distribution
_______ 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
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 .
________ capital also known as environmental capital .
Natural capital
In a free market
Governments intervene
Governments plan production
Government interfere
Prices adjust to coincide scarcity and desires .
______ refers to raising the standard of living and well being of people .
Economic development
Economic growth
Macro economics
Micro economics
____ is used to produce more goods and service in the future .
Normative economics forms ________ based on
Positive statements ,facts
Opinions ,personal values
Positive statement ,value
Opinions ,facts
An Outward shift the production possibility frontier may be caused by
An increase in demand .
More government spending
Better training of employees.
Productive efficiency .
Economics is the study of
Production Technology
Consumption decisions
How society decides what ,how and for whom to produce
The best way to run society
