Economics is best defined as the study of how people, businesses, governments, and societies
A) use their infinite resources.
B) choose abundance over scarcity.
C) make choices to cope with scarcity.
D) attain wealth.
Correct Answer:
Verified
Q1: When an economist talks of scarcity, the
Q2: Scarcity is a situation in which
A) most
Q4: Scarcity exists because
A) of the inefficient choices
Q5: Economists point out that scarcity confronts
A) the
Q6: All economic questions arise because
A) we want
Q7: Scarcity is
A) when a child wants a
Q9: The most fundamental economic problem is
A) scarcity.
B)
Q10: Fundamental economic problems basically arise from
A) the
Q11: People must make choices because
A) there are
Q11: An incentive
A) could be either a reward
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