Economics can be defined as the study of
A) For whom resources are allocated to increase efficiency.
B) How society spends the income of individuals.
C) How scarce resources are allocated.
D) None of the choices are correct.
Correct Answer:
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Q7: Capital,as economists use the term,refers to
A)The cash
Q8: The role of the entrepreneur in an
Q9: The basic factors of production include
A)Land,labor,money,and capital.
B)Land,labor,money,and
Q10: The fundamental problem of economics is
A)The law
Q11: Which of the following is not one
Q13: The "guns versus butter" dilemma that all
Q14: With respect to factors of production,which of
Q15: Given that resources are scarce,
A)A "free lunch"
Q16: Which of the following is not a
Q17: Which of the following is the best
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