Which of the following statements are true?
A) Scarcity refers to shortages at existing market prices.
B) As a result of scarcity, individuals must make choices and face trade-offs.
C) It is impossible to satisfy unlimited human wants with limited resources.
D) All of the answers are true statements.
E) The only true statements are "As a result of scarcity, individuals must make choices and face trade-offs" and " "It is impossible to satisfy unlimited human wants with limited resources."
Correct Answer:
Verified
Q8: Fundamentally, economics is concerned with:
A)how scarce resources
Q10: The fundamental economic problem is:
A)poverty.
B)unemployment.
C)scarcity.
D)government intervention into
Q11: The problem of scarcity:
A)exists because resources are
Q12: Scarcity is:
A)only a problem in modern industrialized
Q14: Scarcity:
A)exists because basic human survival needs cannot
Q17: Economics is most importantly concerned with:
A)how to
Q18: Scarcity means that:
A)there will always be families
Q25: Which of the following forces us to
Q30: Scarcity is the result of:
A)government decision making.
B)inappropriate
Q55: Scarcity exists because of:
A)the allocation of goods
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