Economists sometimes say that wants are "unlimited" because
A) even if everyone could have all of the goods and services they wanted,they would not have enough time to enjoy them all.
B) studies have shown that they are unlimited.
C) no one ever has all they want of anything.
D) there are always going to be some people richer than others.
Correct Answer:
Verified
Q3: Imagine (assume)you have just met someone who
Q4: In economic analysis,resources are _ while people's
Q5: Production refers to
A)physically producing material goods only.
B)any
Q6: Scarcity implies that people must
A)be selfish.
B)make choices.
C)be
Q7: Scarcity implies that
A)people should limit their wants.
B)firms
Q9: "Wants" are
A)another term for needs.
B)all the things
Q10: A person goes to college to become
Q11: Services can be thought of as
A)free goods.
B)intangible
Q13: Economists speak of using resources to satisfy
Q22: The most basic concept in economics is
A)wealth.
B)income.
C)scarcity.
D)spending.
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