The conversion of resources into consumer goods or services is called
A) human capital.
B) production.
C) opportunity cost.
D) absolute advantage.
Question 2
The concept of demand in economics refers to
A) the different quantities of a good or service people will buy at different possible prices.
B) the different types of goods and services that people of different income levels want to buy.
C) how changes in the prices of all goods affect people's buying behavior.
D) changes in people's consumption behavior over time.
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