A budget constraint
A) does not occur if there is scarcity.
B) is faced only by poor people.
C) is a way to overcome scarcity.
D) forces people to make choices.
E) prohibits consumers from spending.
Correct Answer:
Verified
Q14: Which of the following statements about economic
Q15: Economics is a study of
A)choices and interactions
Q16: The economic problem is
A)a lack of money.
B)a
Q17: Economic interactions occur only in the presence
Q18: Choices are made in order to avoid
Q20: The concept of scarcity refers to
A)a situation
Q21: Stephanie has only one hour to study
Q22: Exhibit 1-2 Q23: An example of opportunity cost is the Q24: Exhibit 1-1
A)income
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