To say that there is a scarcity of gold means that:
A) gold prices will fall in the future.
B) there is not enough gold to satisfy people's demand for it at a zero price.
C) there are very few substitutes for gold.
D) gold is very expensive.
E) the demand for gold is changing.
Correct Answer:
Verified
Q29: Which of the following sayings best represents
Q30: The concept of scarcity as used by
Q31: Opportunity cost is best defined as the:
A)sum
Q32: To say that something is scarce means
Q33: The basic economic problem is:
A)inflation.
B)unemployment.
C)poverty.
D)scarcity.
E)lack of money.
Q35: Which of the following statements is false?
A)Economists
Q36: Economics is the study of:
A)the allocation of
Q37: Which economic concept is illustrated by the
Q38: If you must make a choice about
Q39: To an economist, scarcity means that:
A)it is
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