When economists say goods are scarce,they mean that:
A) consumers do not have enough money to purchase the goods.
B) the desire for goods and services exceeds our ability to produce them with limited resources.
C) at the current price, consumers are willing to buy more of a good than suppliers are willing to produce.
D) government programs are needed to lift families out of poverty.
Correct Answer:
Verified
Q41: Economics is primarily the study of:
A)human greed.
B)how
Q44: The fundamental economic problem is:
A)poverty.
B)unemployment.
C)scarcity.
D)inflation.
Q47: By the study of "scarcity," an economist
Q48: Which of the following statements are true?
A)Wealthy
Q49: Economics is concerned with:
A) the choices people
Q50: Economics is primarily the study of:
A) how
Q50: Scarcity would cease to exist as an
Q59: In order to determine if a hypothesis
Q60: Economics is the study of how people
Q65: In economic terms, religious and spiritual services
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