Scarcity exists when:
A) a choice must be made among two or more alternatives.
B) we face the notion of "all other things unchanged."
C) countries and people find themselves facing poverty.
D) the notions of normative economics come into play.
Correct Answer:
Verified
Q5: When we are forced to make choices
Q6: A scarce resource is one that:
A) is
Q7: The existence of alternative uses of a
Q8: Which of the following is most likely
Q9: Economics, generally speaking, is primarily concerned with:
A)
Q11: The basic concern of economics is to:
A)
Q12: A(n) _ does not pose the problem
Q13: Although water is very abundant in most
Q14: The opportunity cost of going to a
Q15: Scarcity in economics means:
A) not having sufficient
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