To say that there is a scarcity of gold means that
A) gold prices will rise.
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: What economic concept is illustrated by the
Q29: Which of the following sayings best represents
Q30: A good or service becomes scarcer over
Q31: To an economist, scarcity means that
A) it
Q32: To say that something is scarce means
Q33: Which statement concerning opportunity costs is false?
A)
Q33: The basic economic problem is:
A)inflation.
B)unemployment.
C)poverty.
D)scarcity.
E)lack of money.
Q35: The opportunity cost of studying economics tonight
Q36: Which of the following statements is false?
A)
Q38: Choices are not made because of limited
A)
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