11. What kind of approach is used by economists to explain how the economy works? A. Collaborative B. experimental C. positive D. scientific 12. What are you experiencing when your wants are greater than your resources? A. Poverty B. Scarcity C. trade-off D. unemployment 13. What is the reason why we are studying economics? A. Poverty B. Scarcity C. trade-off D. unemployment 14. What type of analysis are economists concerned with in order to become objective? A. careful C. normative D. positive B. negative 15. Which major characteristic of economists enable them to make sound decisions in solving economic problems? A. objective B. prompt C. subjective D. trustworthy

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Don’t do question 9, just look at the info and chart on question 9 and apply it to question 10 in the next image.

uestion 3 If you want to minimize interest payments on a loan, you'll need one that has a simple interest rate so that yo John opened an account, and knew exactly how much it would be worth at the end of the year, because it used year. What is simple interest? Oa. Interest only on original amount saved or borrowed Ob. interest on original amount saved, borrowed and other interest earned Oc. a fee paid for the use of someone else's money Od. taxes on the original amount saved or borrowed L A Moving to another question will save this response. →