Mick Jagger, a former student at the London School of Economics, once sang, "You can't always get what you want, but if you try sometime, you just might find you can get what you need." Another statement of the basic economic principle expressed in this lyric is that
A) rational decisions are not always possible.
B) you can allocate your resources to what gives you the highest value.
C) you can create the supply to meet your own demand.
D) you can maximize social welfare by making optimal decisions.
Correct Answer:
Verified
Q132: The idea of opportunity cost is relevant
A)only
Q133: Scarcity is a concept that does not
Q134: The main reason that finished goods are
Q135: If it is not possible to increase
Q136: An optimal decision is one that is
Q138: Which of the following quotations best captures
Q139: The fundamental goal of economics is to
A)provide
Q140: Opportunity cost is best defined as the
Q141: If a market system is functioning well,
Q142: The divergence between money costs and opportunity
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Install the app to get 2 free unlocks
Unlock quizzes for free by uploading documents