1) which of these is a NEED? a) water b) iPhone 17 Pro Max c) a new house d) 3 millon dollars 2) OPPORTUNITY COST is when you have to choose between 2 options because you can’t afford both a) false b) True 3) Choose 2 factors of production a) land b) technology c) capital 4) RELOCATION refers to moving to another country for work a) true b) false 5) VALUE CHAIN is related to the business process and the things you do to make a product a) false b) true 6) INDIVIDUALISM is characterized by loyalty to a group and harmony a) true b) false 7) DISRUPTIVE TECHNOLOGIES are innovations that improve a product in a way that the market does not expect a) true b) false 8) SPECIALIZATION is the same as division of tasks a) true b) false 9) Added value is connected to increase in value given to a product or service during the production process a) false b) true

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