As goods and services are scarce, _____.
A) the opportunity cost is zero
B) people must choose among alternatives
C) all human wants can be satisfied
D) resource prices are fixed
E) commodities are free
Correct Answer:
Verified
Q30: In economics, capital refers to:
A) wages earned
Q31: Which of the following is a service?
A)
Q32: Resources can be divided into _.
A) people,
Q33: The payment in return for the use
Q34: Goods and services are limited in supply
Q36: Resources are bought and sold in:
A) product
Q37: Entrepreneurial ability is rewarded by _.
A) profit
B)
Q38: The payment in return for the use
Q40: If a firm produces and sells only
Q55: Unlike a "service, " a "good"
A)is desirable
B)uses
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