_______ 12. What is the best example of opportunity cost below?
A. You study for your Economics test.
B. You go bowling with friends instead of going camping with family.
_______ 13. The Bulldog family goes to the Westerville Dental Group to get its teeth cleaned. The Westerville Dental Group represents
A. A good
B. A service
_______ 14. Mario has started a catering business in Milan, Italy. He hires three cooks. Which factor of production are the cooks?
A. Capital Goods
B. Land
C. Labor
D. Entrepreneurship
_______ 15. Luigi wants to improve his bakery so he buys new ovens and mixers. Ovens and mixers represent which factor of production?
A. Capital Goods
B. Land
C. Labor
D. Entrepreneurship
_____A.__ 16. Which of the following represents natural resources in Luigi’s Bakery?
A. Sugar and milk
B. Employees
C. Luigi himself
D. Mixers
_______ 17. The Buckeyes have a surplus of wheat and the Wolverines grow cherries. Which statement describes the most likely result?
A. The Wolverines will search for wheat on the East Coast.
B. The Buckeyes and Wolverines will trade with each other
ILL MARK BRAINLIEST
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Answer:
12: A 13: A 14: c 15 :A 16:A 17 : A
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