Michigan has an abundant supply of fresh water.However,an economist would consider it a scarce resource because:
A) water is necessary for human survival.
B) pollution will eventually destroy all life in the Great Lakes.
C) water is limited relative to people's unlimited wants.
D) water commands a very high price.
E) nature can destroy water as well as create it.
Correct Answer:
Verified
Q1: The fact that people have unlimited wants
Q6: Benjamin works as an economist for the
Q8: Economics:
A)studies human behavior when scarcity exists and
Q9: Economics is best defined as the study
Q10: The problem of scarce resources:
A)means that there
Q15: Which of the following would an economist
Q16: Which of the following statements regarding the
Q29: Natural resources are
A)not considered scarce because no
Q33: When economists refer to capital, they might
Q204: Which of the following is the best
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