The study of economics
A) focuses mainly on individual consumers.
B) arises from the fact that our wants exceed available resources.
C) recognizes that scarcity does not affect rich nations.
D) deals mainly with microeconomics.
Correct Answer:
Verified
Q8: An incentive
A) could be a reward but
Q9: Economics is best defined as the science
Q10: Scarcity requires that people must
A) cooperate.
B) compete.
C)
Q11: Scarcity is a situation in which
A) people
Q12: An inducement to take a particular action
Q14: Fundamental economic problems basically arise from
A) the
Q15: Economics is best defined as the study
Q16: Economists point out that scarcity confronts
A) neither
Q17: All economic questions are about
A) how to
Q18: The problem of "scarcity" applies
A) only in
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