The problem of scarcity:
A) exists because resources are limited relative to wants.
B) exists because resources are unlimited relative to wants.
C) is solved by economists using abstract models.
D) can be eliminated through appropriate government intervention into markets.
E) does not exist in communist societies.
Correct Answer:
Verified
Q6: Economics is primarily the study of:
A)how choices
Q7: Economics is a science that:
A)typically uses controlled
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
Q12: Scarcity is:
A)only a problem in modern industrialized
Q13: Which of the following statements are true?
A)Scarcity
Q14: Scarcity:
A)exists because basic human survival needs cannot
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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