Question: Free products offered by firms . . .

Answer: may or may not be free to individuals but are never free to society.

Question: Economics involves marginal analysis because:

Answer: ...

Question: A typical concave (bowed out from the origin) production possibilities curve implies:

Answer: decreasing opportunity costs.

Question: In economics, the pleasure, happiness, or satisfaction received from a product is called:

Answer: utility

Question: The problems of aggregate inflation and unemployment are:

Answer: major topics in macroeconomics

Question: The economic perspective used in customer decision making at fast-food restaurants is reflected in:1. irrational purchasing of high-fat-content food.2. all customer lines tending to be of different lengths.3. customers selecting the shortest line.4.decisions for which marginal costs exceed marginal benefits.

Answer: customers selecting the shortest line