Economics is the study of choice under conditions of
A) demand
B) supply
C) scarcity
D) opportunity
E) abundance
Correct Answer:
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Q14: Economics is the study of
A) how to
Q15: Individuals must make choices because
A) resources are
Q16: Economics is
A) exclusively the study of the
Q17: People and organizations have to make choices
Q18: Economics is the study of
A) scarcity under
Q20: The study of economics would be superfluous
Q21: Physical capital differs from raw materials in
Q22: The four main categories of resources are
A)
Q23: Society's resources include
A) land and labor
B) labor
Q24: Which of the following is the best
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