Whether studying the size of the U.S. economy or the number of children a couple will choose to have, the unifying concept is that wants are:
A) limited, resources are limited, and thus choices must be made.
B) unlimited, resources are limited, and thus choices must be made.
C) unlimited, resources are limited to some but not to others, and thus some people must make choices.
D) unlimited, resources are limited, and thus government needs to do more.
Correct Answer:
Verified
Q10: The scarcity principle tells us that _,
Q11: Economic questions always deal with:
A) financial matters.
B)
Q12: The logical implication of the scarcity principle
Q13: A rational person is one who:
A) is
Q14: Chris has a one-hour break between classes
Q16: The cost-benefit principle indicates that an action
Q17: At the very least, Joe Average and
Q18: The scarcity principle indicates that:
A) no matter
Q19: The range of topics or issues that
Q20: The principle of scarcity applies to:
A) the
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