Economic bads are items
A) for which the produced quantity is less than the amount desired at a positive price.
B) for which the desired quantity is less than what nature provides at a zero price.
C) that individuals desire but which receive social disapproval.
D) that receive social approval but which governments dislike.
Correct Answer:
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Q87: What is production? What economic factors are
Q88: "Wants" as an economic concept includes
A) both
Q89: Wants
A) is another term for needs.
B) refer
Q90: To an economist, the term "needs"
A) refers
Q91: Briefly explain the difference between the concepts
Q93: Why is it that all of our
Q94: The term "labor" for an economist includes
A)
Q95: All of the following are resources EXCEPT
A)
Q96: Human beings
A) have unlimited wants.
B) think they
Q97: Economists are concerned with an individual's
A) needs
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