The goods and services that we buy from firms in other countries are

A ________  ________ is a choice that uses the available resources to best achieve the objective of the person making the choice.

The basic economic problem is how to ______ scarce resources among alternate uses.

whatever is widely accepted as a method of payment

something used as money, but which has no intrinsic value besides that

The U.S. government has implemented a number of programs to assist those below the poverty line and those who have incomes just above the poverty line called the 

a balance achieved between two desirable but incompatible outcomes

are the objects (goods) and actions (services) that people value and produce tosatisfy human wants

are goods and services that are bought by governments

is the opportunity cost of a one-unit increase in an activity