Which of the following forces us to choose among alternatives?
A) Value
B) Scarcity
C) Rarity
D) Market mechanism
Correct Answer:
Verified
Q20: Economists assume that most individuals act as
Q21: A testable proposition that predicts how people
Q22: Theories and models are explanations of how
Q23: A positive statement is prescriptive-it prescribes what
Q24: Normative analysis focuses on statements that can
Q26: Scarcity exists for those with
A)lower incomes.
B)average incomes.
C)higher
Q27: Most disagreements among economists stem from normative
Q28: A good economic theory, or model, weeds
Q29: When two variables repeatedly change at the
Q30: Scarcity is the result of:
A)government decision making.
B)inappropriate
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