14. Which pair gives a correct example or definition of one of the factors of production?*

A Entrepreneur - group of people with all their talents and skills

B Capital - insurance

C Land - crops

D Labor - risk takers who start their own business

15. What is the fundamental economic problem facing all societies?*

A Excess supply

B Social security

C Scarcity

D Lack of incentive to work

16. If the price of tortilla chips goes up, the demand for salsa goes down. Tortilla chips and salsa must be*

A Substitute goods

B Complementary goods

C Capital goods

D Demanded goods