Why do both households and societies face many decisions?
A) Resources are scarce.
B) Populations may fluctuate over time.
C) Wages for households and therefore society fluctuate with business cycles.
D) People, by nature, tend to disagree.
Correct Answer:
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Q1: What do households and economies have in
Q3: When is a good considered scarce in
Q4: Which word comes from the Greek word
Q5: Approximately what percentage of the world's economies
Q6: How are goods and services allocated in
Q7: From which of the following is the
Q8: What do economists study?
A) how people make
Q9: When does scarcity exist?
A) when there is
Q10: What concept is illustrated by the adage,
Q11: What is NOT included in the decisions
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