An economist who says that consumer wants are inexhaustible means that:
A) economic resources are valuable only because they can be used to produce consumer goods
B) economic resources-natural, capital, and human resources-are scarce
C) consumers wants are virtually unlimited and, therefore, incapable of being fully satisfied
D) the nature of consumer wants is highly unpredictable
E) the nature of consumer demand varies from time to time and from country to country
Correct Answer:
Verified
Q13: Macroeconomics approaches the study of economics from
Q14: The scarcity problem:
A)persists only because countries have
Q15: Stocks and bonds are not considered to
Q16: The study of economics is carried out
Q17: The economic problem stems from the fact
Q19: The role of the entrepreneur involves:
A)waiting for
Q20: The money payments made to owners of
Q21: Utility refers to the:
A)extent to which a
Q22: An economic model usually includes:
A)neither independent nor
Q23: Which of the following is a normative
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