Which of the following explains why economic choices must be made?
A) The factors of production are scarce.
B) The factors of production are expensive.
C) The factors of production are used inefficiently.
D) The factors of production are of inferior quality.
Correct Answer:
Verified
Q1: Entrepreneurship refers to:
A) Natural resources,such as land
Q3: The opportunity cost of playing tennis with
Q4: If resources are limited:
A) People will rush
Q5: The central problem of economics is the:
A)
Q6: Opportunity cost may be defined as the:
A)
Q7: In economics,which of the following is the
Q8: Which of the following is the best
Q9: The study of economics focuses on:
A) The
Q10: Which of the following is an example
Q11: If society lacks enough resources to satisfy
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