The problem of ʺscarcityʺ applies
A) only in underdeveloped countries because there are few productive resources in these countries.
B) to all economic systems, regardless of their level of development.
C) only in economic systems that are just beginning to develop because specialized resources are scarce.
D) only in industrially developed countries because resources are scarce in these countries.
Correct Answer:
Verified
Q12: Fundamental economic problems basically arise from
A) the
Q13: When an economist talks of scarcity, the
Q14: Scarcity can be eliminated through
A) exploration that
Q15: The study of economics
A) deals mainly with
Q16: Economics is best defined as the study
Q18: An inducement to take a particular action
Q19: Economists point out that scarcity confronts
A) the
Q20: Economics is best defined as
A) controlling a
Q21: Which of the following is a microeconomic
Q22: In part, microeconomics is concerned with
A) factors
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents