1: C 2:A 3: C 4: C 5: B. I may be wrong. I think those are correct
Goods and services which is if there is very little of something it will cost more and if there is more of something it will be cheaper
True. he believed that by getting rid of these social differences, everyone would be equal and equally well off; so he came up with communism. of course, we all know that it ended up being equally BAD off. ;)
The output is the finished good or service, and inputs are raw materials, labor, utilities, liscensing fees, or other goods. These inputs are also known as factors of production. If the price of inputs goes up, the cost of producing the good increases
