The existence of scarcity implies that
A) economic interaction is limited.
B) people are not able to use all the available resources.
C) people must make a choice.
D) people will always be poor.
E) rich people are better off than poor people.
Correct Answer:
Verified
Q1: Who faces the problem of scarcity?
A)Only the
Q2: From an economic perspective, people make decisions
Q4: A resource is not scarce if
A)there is
Q5: People make decisions when doing something involves
A)no
Q6: A market is
A)a place where firms meet
Q7: If a resource is always available when
Q8: Economics deals with how
A)individuals make decisions to
Q9: Buyers and sellers interact in a
A)government.
B)face-to-face forum.
C)family.
D)market.
E)classroom.
Q10: Economics is the study of how individuals
Q11: Economics is the study of how people
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