The necessity for choice, in economics, arises from
A) high incomes and many goods.
B) scarcity of economic means for satisfying economic wants.
C) scarcity of time and knowledge, and numerous similar goods.
D) All of the above are correct.
Correct Answer:
Verified
Q70: Which type of economic system will produce
Q77: Free markets produce allocatively efficient outcomes and
Q78: Figure 14-1 Q79: Figure 14-1 Q80: Politicians always agree with economists about the Q82: Input-output analysis is commonly used in production Q85: Which nation listed below is successfully transitioning Q91: The slope of a typical production possibilities Q93: The production possibilities frontier illustrates Q94: Goods are distributed efficiently if everyone gets
A)the constant rate
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents