Economics is the study of how:
A) Society manages its unlimited resources.
B) To reduce our wants until we are satisfied.
C) Society manages its scarce resources.
D) To fully satisfy our unlimited wants.
E) To avoid having to make trade-offs.
Correct Answer:
Verified
Q1: High and persistent inflation is caused by
Q2: Rational people act only when the marginal
Q3: The European Union will benefit economically if
Q5: Resources are:
A) Scarce for households but plentiful
Q6: A rational person does not act unless:
A)
Q7: Which of the following involve a trade-off?
A)
Q8: When the government redistributes income with taxes
Q9: When a jet flies overhead, the noise
Q10: Trade-offs are required because wants are unlimited
Q11: Adam Smith's "invisible hand" concept describes how
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