The problem of scarcity applies
A) only in countries that are over- populated
B) to all countries, regardless of their level of development.
C) only in developing countries because resources are scarce in these countries
D) only in industrially developed countries because resources are scarce in these countries.
E) only in countries that use natural resources in most of their production processes
Correct Answer:
Verified
Q3: An incentive
A)could be either a reward or
Q4: Scarcity confronts
A)only families with incomes less than
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
Q9: Complete the following sentence.Macroeconomics
A)deals mainly with the
Q10: The fact that human wants cannot be
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
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