The study of economics:
A) revolves around a central theme that human wants are limited in developing nations.
B) considers scarcity to be a situation only for developing nations.
C) looks at how individuals, businesses, and governments make decisions about how to use their limited resources.
D) is limited to examining how governments interact with each other at the federal, state, and local levels.
Correct Answer:
Verified
Q1: Economics is:
A) an analysis of markets by
Q3: Scarcity occurs when:
A) people are selfish.
B) human
Q4: The number of tickets available for a
Q5: A central theme of economic thought is
Q6: When human wants and needs exceed the
Q7: Scarcity:
A) does not exist in the real
Q8: Economics assumes that most humans make _
Q9: Rational self-interest predicts that:
A) people will alter
Q10: A basic assumption made by economists regarding
Q11: Where does trade occur?
A) primarily in foreign
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