Which of the following statements best describes the relationship among scarcity, economic decisions, and economic systems?
A) The economic system that a society chooses determines whether or not it faces a scarcity problem.
B) The choice of an economic system depends on which basic economic decisions a society must make.
C) Scarcity forces a society to choose an economic system which, in turn, defines which economic decisions it must make.
D) Scarcity imposes basic economic decisions on a society that are made through the type of economic system it chooses.
Correct Answer:
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Q9: A society's economic system is defined by:
A)
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Q12: Which of the basic economic decisions always
Q13: An economy that relies largely on custom
Q14: The economic systems of people such as
Q15: You would expect a society with a
Q16: Which of the following statements about traditional
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