Scarcity means:
A) Retail stores always run out of popular products.
B) The desire for goods exceeds our capacity to produce them.
C) Society will run out of the factors of production in the near future.
D) A surplus of unsold goods in a specific market will not occur.
Correct Answer:
Verified
Q12: In economics,capital refers to:
A) Money.
B) Savings put
Q13: Which of the following is NOT a
Q14: Which of the following is NOT an
Q15: Which of the following is true about
Q16: The concept of opportunity cost would become
Q18: The primary concern of economics is the
Q19: Given that resources are scarce:
A) A "free
Q20: Societies must address the question of WHAT
Q21: Assuming the level of resources and technology
Q22: Table 1.1 - Production possibilities and opportunity
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