Which of the following statements is FALSE?
A) Even as society increases its wealth, the problem of scarcity remains.
B) While basic needs are few, wants are unlimited.
C) You will not incur any opportunity cost as long as you always make the right decisions.
D) Economics has traditionally been referred to as the dismal science.
Correct Answer:
Verified
Q2: The problem of economic scarcity applies
A) only
Q3: "Using economics" means
A) saving money.
B) eliminating scarcity.
C)
Q4: Wants are goods and services that you
A)
Q5: Opportunity costs arise from
A) scarcity.
B) poverty.
C) poor
Q6: Opportunity costs do not arise when
A) the
Q7: Opportunity cost is always
A) a financial cost.
B)
Q8: Economic theory asserts that altruistic behavior
A) involves
Q9: Economics has traditionally been referred to as
Q10: Those things we like to have and
Q11: Economics is best defined as the
A) study
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