Owners can protect themselves from a failure of the low-bid contractor to live up to quoted con- struction cost in their bid by obtaining a a. performance bond b. bid bond c. payment bond d. lien waiver

Performance Bond

Explanation:

In this case, a performance bond will used to ensure that the low-bid contractor performs the construction (in terms of cost and quality) as agreed in the contract they obtained after their bid.

It is different from a bid bond in the sense that the bid bond is geared towards protecting the owner from awarding a contract to a bidder who then fails to enter the contract.

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

answerjointly by the fed and by the behavior of individuals who hold money and of banks in which money is held;