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Which of the Following Statements Is FALSE

Question 33

Multiple Choice

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.

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