The existence of a universal law of scarcity creates pressures on societies to

a. use their resources according to government plans.
b. economize in the use of their resources.
c. allocate their resources equitably.
d. exploit their resources.

b

Economics

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________ is the excess of imports over exports

A) Budget surplus B) Trade surplus C) Trade deficit D) Budget deficit

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Average total cost equals

A) TC/Q. B) TVC/Q. C) TFC/Q. D) change in total cost/change in output.

Economics