In every economic system, choices must be made because resources are ________ and our wants are ________.
A) unlimited; limited
B) limited; unlimited
C) unlimited; unlimited
D) limited; limited
Correct Answer:
Verified
Q1: Scarcity is
A) our inability to satisfy all
Q3: Scarcity exists because
A) society and people are
Q4: All economic questions arise because we
A) want
Q5: As an economic concept, scarcity applies to
A)
Q6: When an economist talks of scarcity, the
Q7: People must make choices because
A) most people
Q8: An incentive
A) could be a reward but
Q9: Economics is best defined as the science
Q10: Scarcity requires that people must
A) cooperate.
B) compete.
C)
Q11: Scarcity is a situation in which
A) people
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents