You are in charge of purchases at the student-run used-book supply program at your college, and you must decide how many introductory calculus, history, and marketing texts should be purchased from students for resale. Due to budget limitations, you cannot purchase more than 750 of these textbooks each semester. There are also shelf-space limitations: Calculus texts occupy 2 units of shelf space each, history books 1 unit each, and marketing texts 5 units each, and you can spare at most 1,200 units of shelf space for the texts. If the used book program makes a profit of $10 on each calculus text, $4 on each history text, and $8 on each marketing text, how many of each type of text should you purchase to maximize profit

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

answer; private store;