Markets distribute goods and services based on _____.

Economics is the study of how a society _______________.

Economists can predict what consumers in general will do because all humans seek __________.

Firms ________ in output markets and ________ in input markets.

If a product goes up in price, and the demand for it drops, that product's demand is ____________.

Industrial products are also referred to as __________ products.

Refer to the diagram. total utility is at a maximum at _____ units of x.

Readiness for training depends on _____.

Rationing is a common form of distribution in a _____.

Price elasticity of demand is not _______.

Patents and copyrights are classified as ___________ on the balance sheet.