Cell phones are an example of scarce goods because:
A) Everybody owns a cell phone
B) The number of cell phones people demand is greater than the number of cell phones available for sale
C) You cannot use the cell phone without the cell phone service
D) The number of cell phones people demand is less than the number of cell phones available for sale
E) The number of cell phones people demand is greater than the number of cell phones available at a price of zero
Correct Answer:
Verified
Q25: An economist would classify 100 shares of
Q41: Choices made by economic decision makers
A)are government
Q42: The expression "There's no such thing as
Q43: The assumption of rational self-interest does not
Q46: Goods and services are exchanged in
A)product markets
B)resource
Q47: The difference between a good and a
Q49: In the simple circular-flow model:
A) Goods and
Q51: Which of the four types of decision
Q57: Considering both product markets and resource markets,
Q59: A rational individual would make charitable contributions
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