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6 Cards in this Set

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The economizing problem is one of deciding how to make the best use of:
limited resources to satisfy virtually unlimited wants.
The concept of economic efficiency is primarily concerned with:
obtaining the maximum output from available resources.
An "increase in efficiency" suggest that an economy:
is able to get more output from a given amount of inputs.
Which of the following lists include only capital resources(and therefore no labor or land resources)?
Autos owned by a car rental firm; computers at the car rental agency; the vans that shuttle rental customers to and from the airport.
Money is not an economic resource because:
money, as such, is not productive.
Economic resources are also called:
factors of production.