The fact that human wants cannot be fully satisfied with available resources is called the problem of
A) marginal cost.
B) opportunity cost.
C) scarcity.
D) the big tradeoff.
E) normative economics.
Correct Answer:
Verified
Q5: In a world characterized by scarcity
A)individuals need
Q6: Which of the following is the best
Q7: The branch of economics that studies the
Q8: The problem of scarcity applies
A)only in countries
Q9: Complete the following sentence.Macroeconomics
A)deals mainly with the
Q11: The inescapable economic fact is that
A)capitalists are
Q12: Which of the following is a microeconomic
Q13: The problem of scarcity exists
A)in all economies.
B)only
Q14: The branch of economics that studies the
Q15: The study of how wages are set
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