Choice | Consumer | Economic Goods | Free Goods | Goods | Limited Means | Opportunity Cost | Scarcity | Service | The basic economic problem | The real cost of a decision | Wants | Why can individuals not have everything they want
The work of a mechanic or doctor is termed a:
What is meant by the term consumer goods?
What does 'scarcity' mean in economics?
Mariah could buy a pie, a bag of chips or a roll. She considers the roll the most desirable and the pie the least. What is the opportunity cost of her decision? Justify your answer.
Using an example, describe the difference between a good and a service.
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