Scarcity is a situation in which
A) most people can get only bare necessities.
B) people can satisfy all their wants.
C) some people can get all they want and some cannot.
D) people cannot satisfy all their wants.
Correct Answer:
Verified
Q1: When an economist talks of scarcity, the
Q3: Economics is best defined as the study
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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