Which of the following statements is FALSE?
A) Individuals are unable to obtain all the goods and services they would like because incomes are limited.
B) An individual's inability to acquire all the goods and services he or she would like is a personal version of the basic economic problem.
C) To maximize economic satisfaction an individual must, within the limits of his or her income, pick the combination of goods and services that maximizes total utility.
D) Maximizing satisfaction is easier in economically advanced countries than in less developed countries because individuals' income earning potentials are limitless in advanced countries.
Correct Answer:
Verified
Q28: An example of a nondurable good is:
A)
Q29: Which of the following statements is FALSE?
A)
Q30: To maximize economic well-being, a person should:
A)
Q31: Maximizing economic well-being requires that:
A) an individual
Q32: The economic goal of an individual is
Q34: Maximizing satisfaction from consuming goods and services
Q35: When trying to maximize economic well-being from
Q36: The satisfaction realized from consuming a good
Q37: The goal of an individual in making
Q38: To maximize utility an individual should purchase
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