Attached is link to textbook pages 63-74 are used for this assignment. Complete all assigned reading before attempting the assignment. Your answers must be based on the reading. Include both the questions and answers, type all answers in complete sentences, and number your work. Submit as a word document.

  1. Why do all nations face the problem of scarcity?
  2. Identify one similarity and one difference between labor and entrepreneurial resources.
  3. List five different natural resources How does a market system decide what will be produced?
  4. In a market system, what determines how many goods and services an individual can buy?
  5. Some nations can produce more goods with fewer workers than other countries that have more workers. How can that be true?


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