1. _____ plays a key role in microeconomics. Optimization Optimizing Optimized Optimize 2. The _____ maximization problem

1. Optimization plays a key role in microeconomics. 2. The utility maximization problem is the heart of consumer theory. 3. Scarcity is the limited nature of society’s resources.  4. Productivity the quantity of goods and services produced from each unit of labor input.  5. Equality is the property of distributing economic prosperity uniformly among the members of society. 6. Efficiency is the property of society getting the most it can from its scarce resources.