Water is considered a scarce good rather than a free good because:
A) it has alternative uses.
B) it does not have alternative uses.
C) scarce goods are less expensive than free goods.
D) free goods are more expensive than scarce goods.
Correct Answer:
Verified
Q1: The study of how people choose among
Q3: The concept of scarcity indicates that:
A) most
Q4: The problem of scarcity is confronted by:
A)
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)
Q10: Scarcity exists when:
A) a choice must be
Q11: The basic concern of economics is to:
A)
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