As an economic concept, scarcity applies to
A) neither time nor money.
B) money but not time.
C) time but not money.
D) both money and time.
Correct Answer:
Verified
Q4: All economic questions are about
A) what to
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: An incentive
A) could be either a reward
Q11: People must make choices because
A) there are
Q13: An inducement to take a particular action
Q14: Scarcity is experienced by
A) only the poor.
B)
Q16: Scarcity requires that people must
A) trade.
B) cooperate.
C)
Q17: Scarcity arises from
A) exploration.
B) limited wants and
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