In a simple circular-flow model, there are flows of _________ and flows of _________.

The main difference between perfect competition and imperfect competition involves _____.

__________________ law implies ownership over an idea or concept or image

Allocation is concerned with how we choose to use our scarce resources on ___________________.

All other things being equal, an increase in supply results in a(n) _____

Capital accumulation is the _____, including _____ capital.

Condition where the opportunity cost of producing additional units of a good rises as society produces more of that good is called

Markets where households sell the use of their inputs to firms

______ sovereignty Is The concept that consumers vote with their dollars in a market economy

Command economy is an economy in which the _____ uses central planning to coordinate most economic activities.

Capital intensive are _____ that uses a large amount of capital