Which of the following statements is true?
A) Goods are scarcer than services in an economy.
B) Goods are scarce for neither the poor nor the rich.
C) Goods are scarce for both the poor and the rich.
D) Goods are scarce for the poor but not for the rich.
E) Goods are scarce for the rich but not for the poor.
Correct Answer:
Verified
Q23: Economics is:
A)concerned with the problem of scarce
Q24: Which of the following statements concerning opportunity
Q25: Ronnie waits one hour in queue to
Q26: Which economic concept is the closest to
Q27: Choices need to be made because of
Q29: Which of the following sayings best represents
Q30: The concept of scarcity as used by
Q31: Opportunity cost is best defined as the:
A)sum
Q32: To say that something is scarce means
Q33: The basic economic problem is:
A)inflation.
B)unemployment.
C)poverty.
D)scarcity.
E)lack of money.
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