Deciding how to make the best use of limited resources to satisfy virtually unlimited wants is known in economics as
a. economizing behavior.
b. the fallacy of composition.
c. ceteris paribus.
d. the fallacy that good intentions do not guarantee the desired outcome.
A
Economics
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It is impossible for one person to have a comparative advantage in all tasks
a. True b. False
Economics
My roommate ________. This is an example of an external benefit.
A. plays the drums whenever I am home B. sings (badly) in my presence C. cleans up after his dog and keeps it from eating my ferrets D. smokes cigars in the kitchen whenever I make dinner
Economics