TRUE or FALSE questions from reading assignments for Unit I. TYPE or WRITE out the words TRUE or FALSE to receive full credit for a correct response.

3A. TRUE or FALSE. The division of labour and specialization allows an economic household to benefit from the skills of others.

3B. TRUE or FALSE. As economic systems move from "virtually self-contained peasant communities" (Heilbroner, Chapter 1) to industrial systems, participants within the industrialized system become less dependent on one another for survival.

3C. TRUE or FALSE. Heilbroner explains the basic economic problem as not having enough money or financial capital to pay for goods and services.

3D. TRUE or FALSE. It is not important for an economic society to put resources to work in the "right" places so that the goods and services most desired by the economic household are produced, because there are always enough resources to produce more stuff.

3E. TRUE or FALSE. Sharing the "fruits of production" (Heilbroner, Chapter 1) is important in maintaining an economic household's ability, capacity and willingness to work.