Forest is a mountain man living in complete isolation in Montana. He is completely self-sufficient through hunting, fishing, and farming. He has not been in the city to buy anything in five years. One can infer:
A) the scarcity principle does not apply to Forest.
B) Forest is not required to make choices.
C) the scarcity principle still applies because more hunting means less fishing and farming.
D) Forest is very satisfied.
Correct Answer:
Verified
Q2: If all the world's resources were to
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Q4: The central concern of economics is:
A) poverty.
B)
Q5: Economics is best defined as the study
Q6: According to the cost-benefit principle:
A) the lowest
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Q9: Choosing to study for an exam until
Q10: The scarcity principle tells us that _,
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A) financial matters.
B)
Q12: The logical implication of the scarcity principle
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