Who makes decisions and trade-offs in the face of scarce resources?Multiple ChoiceIndividualsBusinessesGovernmentsAll of these choices are correct.

When property rights are not well established,Group of answer choicesgovernment resources are used inefficiently.the distribution of private goods is unfair.private goods become public goods.markets fail to allocate resources efficiently.

2. The selection of best alternative from many alternatives is known as__________. A. selection B. decision-making C. organizing D. budgeting

When resources are allocated in such a way that it is possible to increase the production of one good without decreasing the production of another, then the allocation of resources is:Multiple choice question.inefficient.optimal.efficient.possible.

The extent to which the ability to make decisions rests with the people at the top of a firm is referred to as Blank______.Multiple choice question.controlspecializationcentralizationformalization

Consider the following economic agents: a. the governmentb.  consumersc. producersWho, in a market economy, decides what goods and services will be produced with the scarce resources available in that economy?Group of answer choicesthe governmentproducersconsumersconsumers and producers