Economists who assume that wants are "unlimited" are
A) describing the real world because they have studied individual preferences and found that no matter how much people have,they always want more.
B) making a simplifying assumption so they can consider what happens when wants are greater than can be satisfied with the resources and technology available.
C) wrong,because in the real world,people often have all they want of things.
D) making a normative statement about the world.
Correct Answer:
Verified
Q80: Sunk costs are
A)costs incurred in the past
Q81: A map is an example of a
Q82: It is NOT rational to give money
Q83: Holding all variables but one constant and
Q84: An economic theory is also known as
Q86: Which of the following statements about economic
Q87: When an economist analyzes the effect of
Q88: An economist who says "assume that the
Q89: Which of the following statements is TRUE?
A)The
Q90: Which of the following is an application
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