Economics is a:
A) social science that deals with making choices among alternatives.
B) natural science that concerns itself with allocating relatively scarce resources among alternative ends.
C) science that has no theories or models based on the scientific method.
D) humanities course that mainly concerns itself with limited wants versus unlimited resources.
Correct Answer:
Verified
Q14: The opportunity cost of going to a
Q15: Scarcity in economics means:
A) not having sufficient
Q16: According to the textbook, economics is a:
A)
Q17: A scarce resource is one that:
A) has
Q18: Economics is a:
A) social science that studies
Q20: A key theme fundamental to all of
Q21: Whenever a choice is made:
A) the value
Q22: The problem of determining how goods and
Q23: The problem of determining what goods and
Q24: The statement that "there is no such
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