Economics is best defined as the study of how people, businesses, governments, and societies
A) choose abundance over scarcity.
B) make choices to cope with scarcity.
C) use their infinite resources.
D) attain wealth.
Correct Answer:
Verified
Q10: Scarcity requires that people must
A) cooperate.
B) compete.
C)
Q11: Scarcity is a situation in which
A) people
Q12: An inducement to take a particular action
Q13: The study of economics
A) focuses mainly on
Q14: Fundamental economic problems basically arise from
A) the
Q16: Economists point out that scarcity confronts
A) neither
Q17: All economic questions are about
A) how to
Q18: The problem of "scarcity" applies
A) only in
Q19: Scarcity can be eliminated through
A) the use
Q20: Economics is best defined as
A) how people
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