
What economic concept is illustrated by the saying "You can't have your cake and eat it too"?
A) Private property rights
B) Economic freedom
C) Scarcity
D) Opportunity cost
E) Gains from trade
Correct Answer:
Verified
Q24: Which economic concept is the closest parallel
Q25: Jane wins $100,000 in the lottery and
Q26: Goods are scarce when
A) their price is
Q27: Because of scarcity,
A) costs are incurred in
Q28: Ronnie waits one hour in line to
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)
Q34: To say that there is a scarcity
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