Could you please check these other sets of terms.

Here are the terms:

scarcity
cost benefit analysis
marginal revenue
needs
incentives
economy
opportunity cost
variable costs
capitalism
marginal cost

food, clothing,shelter, and other things required for survival.
Answer: needs

occurs when people lack the resources to produce the things they want.
Answer: scarcity

all activity that together affects making, selling, and using goods and services.
Answer: economy

what you cannot buy or do when choosing to do one thing rather than another.
Answer: opportunity cost

economic model compairng marginal costs and marginal benefits of a decision
Answer: cost benefit analysis

economic system in which individuals own the means of production.
Answer: capitalism

something offered in an attempt to get consumers to take certain economic actions.
Answer: incentives

100% correct again! :-)

Thanks Ms. Sue

You're welcome, Sam.

To check these answers, we can use reliable sources such as textbooks, credible websites, or consult with an expert in economics. However, based on the information provided, here is an explanation of each term and the correct answers:

1. Scarcity: Scarcity refers to the limited availability of resources in comparison to the unlimited wants and needs of individuals or society as a whole. This means that there are not enough resources to produce all the goods and services that people desire.

2. Cost benefit analysis: Cost benefit analysis is an economic model that compares the costs and benefits of a decision or action. It involves identifying and evaluating the potential costs and benefits associated with different options to determine the most favorable course of action.

3. Marginal revenue: Marginal revenue is the additional revenue earned from selling one more unit of a good or service. It is calculated by dividing the change in total revenue by the change in quantity.

4. Needs: Needs refer to the fundamental requirements for human survival and well-being, such as food, clothing, shelter, and other essential goods or services.

5. Incentives: Incentives are something offered to motivate or encourage individuals to take certain economic actions or make specific choices. They can be positive (e.g., rewards, bonuses) or negative (e.g., penalties, fines) and play a significant role in influencing behavior and decision-making.

6. Economy: The economy refers to the system or structure of production, distribution, and consumption of goods and services. It encompasses all the activities that impact the process of making, selling, and using goods and services in a society or country.

7. Opportunity cost: Opportunity cost refers to the value of the best alternative given up when making a choice or decision. It is the cost of forgoing the next best alternative.

8. Variable costs: Variable costs are expenses in business or production that change in relation to the level of output or activity. Unlike fixed costs, which remain constant regardless of the production level, variable costs vary as production levels change.

9. Capitalism: Capitalism is an economic system characterized by private ownership and control of resources, means of production, and allocation of goods and services. In a capitalist system, market forces such as supply and demand determine the prices of goods, the distribution of resources, and the allocation of wealth.

10. Marginal cost: Marginal cost is the cost incurred when producing one additional unit of a good or service. It is calculated by dividing the change in total cost by the change in quantity.

The provided answers for these terms seem to be accurate based on the explanations given. However, it is always a good idea to double-check with reliable sources for complete confidence in the answers.