Q Question 1 1 out of 1 points A basic assumption used in many economic models is: Question 4 1 out of 1 points A factor of production that has been produced for use in the production of other goods and services is: Question 3 1 out of 1 points A good is scarce if we must sacrifce something to obtain it. Question 5 1 out of 1 points A person who seeks to earn profts by fnding ways to organize factors of production is called a(n):