Which statement is NOT true?
A) Resource scarcity is a major economic concern in the rich countries of the world.
B) Most opportunity costs are zero.
C) An economic situation is in equilibrium when no individual would be better off taking a different action.
D) Very talented individuals,who can do most things better than most people,may still benefit greatly from specializing in doing one thing.
Correct Answer:
Verified
Q105: Gains from trade exist for:
A)individuals only.
B)states only.
C)countries
Q106: An economy is efficient if it is:
A)possible
Q107: Individuals gain from trade because:
A)of specialization in
Q108: If every individual were required to be
Q109: Two neighbors,Molly and Sandy,are separated by a
Q111: Specialization and trade should NOT lead to:
A)individuals
Q112: If a market is in disequilibrium:
A)it will
Q113: According to economic models of trade,when the
Q114: Which statement is CORRECT?
A)Resource scarcity is not
Q115: A trade-off between equity and efficiency may
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