Imagine a world with unlimited resources,including time.On that planet,
A) personal strife would not exist.
B) the scarcity problem would not apply but the cost-benefit principle would.
C) the cost-benefit principle would be irrelevant because trade-offs would be unnecessary.
D) the scarcity problem would still apply.
E) the discipline of economics would be more important.
Correct Answer:
Verified
Q52: The fundamental problem that is studied in
Q53: The opportunity cost of an activity is
Q54: Cost-benefit analysis can help to shed light
Q55: The cost-benefit principle
A) states that an action
Q56: With banking machines,it is possible to retrieve
Q58: To determine the best course of action,one
Q59: In applying the cost-benefit principle,one should calculate
Q60: The scarcity problem refers to the fact
Q61: Decisions that involve doing something or not
Q62: Opportunity cost is best defined as
A) marginal
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