Part I: Basic Economic Principles—-Matching
1. Scarcity
2. Opportunity Cost
3. Resources
4. Socioeconomic Goals
5. Business Cycle
A. Government objectives linking economic activity and social needs.
B. Condition that exists because there are not enough resources to satisfy human wants.
C. Item or mean required to do something else.
D. Refers to the pattern of rising and declining production which characterizes our economy.
E. The value of what is given up when making an economic decision.

Question

Part I: Basic Economic Principles—-Matching

1. Scarcity

2. Opportunity Cost

3. Resources

4. Socioeconomic Goals

5. Business Cycle

A. Government objectives linking economic activity and social needs.

B. Condition that exists because there are not enough resources to satisfy human wants.

C. Item or mean required to do something else.

D. Refers to the pattern of rising and declining production which characterizes our economy.

E. The value of what is given up when making an economic decision.

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