If all the world's resources were to magically increase one hundredfold, then:
A) people would still have to make trade-offs.
B) economics would no longer be relevant.
C) scarcity would disappear.
D) trade-offs would become unnecessary.
Correct Answer:
Verified
Q2: An implication of scarcity is that:
A)people will
Q3: The Cost-Benefit Principle indicates that an action
Q4: Janie must choose to either mow the
Q5: Economics is best defined as the study of:
A)the
Q6: Economists recognize that because people have limited
Q8: The Scarcity Principle tells us _, and
Q9: Choosing to study for an exam until
Q10: Suppose that the extra cost to Tim
Q11: A rational person:
A)makes choices based on total
Q12: The Scarcity Principle states that:
A)people don't have
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