In 2006, hurricanes damaged many parts of Texas, destroying homes, businesses, schools, and infrastructure. In strictly economic terminology, these hurricanes are said to have caused
A) scarcity, because the damages made food and shelter scarce.
B) scarcity, because some goods were difficult to get.
C) shortages, because supplies were cut off and goods were destroyed.
D) tradeoffs, because some areas of the country were damaged when others were not.
Correct Answer:
Verified
Q3: Which of the following statements is TRUE
Q4: Entrepreneurs are important to market economies because
A)
Q5: Which of the following are considered factors
Q5: Scarcity implies that people must
A)be miserable.
B)be selfish.
C)make
Q7: Scarcity is caused by
A)unlimited wants running up
Q9: In every economic system, choices must be
Q10: In economic terminology, when a resource is
Q11: Scarcity arises because
A)resources are finite and are
Q14: Scarcity refers to
A) a shortage in a
Q20: Human resources that perform the functions of
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