To an economist, scarcity means that:
A) it is very time-consuming to find a good.
B) at a zero price, the available quantity of a good is insufficient to meet people's wants.
C) a good is unavailable even at very high prices.
D) at the current market price, the amount available is less than the amount that people want and are willing to pay for.
E) resources are unlimited but people's desires are limited.
Correct Answer:
Verified
Q34: To say that there is a scarcity
Q35: Which of the following statements is false?
A)Economists
Q36: Economics is the study of:
A)the allocation of
Q37: Which economic concept is illustrated by the
Q38: If you must make a choice about
Q40: Which of the following is a result
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents