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Macroeconomics Study Set 41

Business

Quiz 1 :

What Is Economics

Quiz 1 :

What Is Economics

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Scarcity is
Free
Multiple Choice
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Answer:

C

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Scarcity requires that people must
Free
Multiple Choice
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Answer:

D

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As an economic concept, scarcity applies to
Free
Multiple Choice
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Answer:

C

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All economic questions are about
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Economics is best defined as the science of choice and how people cope with
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Scarcity exists because
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In every economic system, choices must be made because resources are and our wants are .
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Scarcity is a situation in which
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All economic questions arise because we
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An incentive
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People must make choices because
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Fundamental economic problems basically arise from
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When an economist talks of scarcity, the economist is referring to the
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Scarcity can be eliminated through
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The study of economics
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Economics is best defined as the study of how people, businesses, governments, and societies
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The problem of ʺscarcityʺ applies
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An inducement to take a particular action is called
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Economists point out that scarcity confronts
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Economics is best defined as
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