An important implication of scarcity is that
A) it inhibits economic interaction.
B) people are not able to use all the available resources.
C) people must make a choice.
D) people will always be poor.
E) it is a problem that is easily abolished.
Correct Answer:
Verified
Q9: The basic economic problem is
A)lack of money.
B)unemployment.
C)poverty.
D)scarcity.
E)inflation.
Q10: Economics is the study of how individuals
Q11: The problem of scarcity is
A)a problem only
Q12: A budget constraint
A)does not occur if there
Q13: People make decisions when choices involve
A)no benefits.
B)only
Q13: Scarcity applies to everyone regardless of income.
Q15: Economics deals with how
A)individuals make decisions to
Q17: Who faces the problem of scarcity?
A)Only the
Q18: Choices are made in order to avoid
Q18: A resource is not scarce if
A)there is
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