A shortage creates a situation that forces prices to ________ while a surplus creates a situation that forces prices to ________

When you paint the outside of your house, you not only enjoy a private benefit for yourself, but you also provide a(n) __________________ benefit.

Fill in the blank(s) with the appropriate word(s).

In terms of efficiency, any point on a production possibilities frontier is as good another.

Answer the following statement true (T) or false (F)