Imagine (assume) you have just met someone who truly means it when they say they "have everything they could want." As a result,
A) scarcity would not be a problem.
B) scarcity would still be a problem unless every person in the world felt that way.
C) that person would not be rational.
D) that person's behaviour would not be self-interested.
Correct Answer:
Verified
Q1: Resources are also known as
A)minerals.
B)factories.
C)factors of production.
D)money.
Q2: Scarcity means
A)not being able to satisfy all
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
Q8: Economists sometimes say that wants are "unlimited"
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
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