Notgrass Exploring Economics Unit 5 |20 Questions| With Correct Answers.

Services {Ans: are intangible duties that people perform for pay.}The production possibilities curve {Ans: is the maximum production that an economy can have, given its production resources.}Goods {Ans: are tangible items that companies or individuals produce for consumption.}Capitalism and socialism {Ans: differ in terms of who makes economic decisions.}An economic incentive {Ans: is a benefit that motivates action.}Loans that were too large for people to pay back {Ans: helped cause the Great Recession.}