What do economists mean when they say goods are scarce?
A) Government programs are needed to lift families out of poverty.
B) At the current price, consumers are willing to buy more of a good than suppliers are willing to produce.
C) Consumers do not have enough money to purchase the goods.
D) The desire for goods and services exceeds our ability to produce them with limited resources.
Correct Answer:
Verified
Q7: What does economics primarily explore?
A) how the
Q8: Which of the following statements best describes
Q9: Which of the following statements about scarcity
Q10: What do all economic problems arise from?
A)
Q11: What problem is caused when not all
Q13: According to most economists, what is the
Q14: As defined by an economist, what does
Q15: Which of the following statements about scarcity
Q16: Why does the problem of scarcity exist?
A)
Q17: What is the central concern of economics?
A)
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