The concept of trade-offs would become irrelevant if
A) we were dealing with a very simple, one-person economy.
B) poverty were eliminated.
C) scarcity were eliminated.
D) capital were eliminated.
Correct Answer:
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Q2: When two people trade,
A) both of them
Q3: Refer to the information provided in
Q4: Refer to the information provided in
Q5: Refer to the information provided in
Q6: Someone has a comparative advantage in producing
Q7: Which of the following would an economist
Q8: Outputs in the production process are
A) pollution.
B)
Q9: According to the theory of comparative advantage,
Q10: Refer to the information provided in
Q11: Suppose you are deciding whether to spend
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