Scarcity is:
A. a fact of life because of limited resources.
B. can be eliminated by rational decision making.
C. not a problem for Bill Gates because he is a billionaire.
D. is a problem studied in microeconomics but is not a macroeconomic concern.
Answer: A
Economics
You might also like to view...
Refer to the above table. If opportunity costs are constant, the two countries will gain from trade at a rate of exchange of
A) 0.1 computer for 1 bicycle. B) 5 computers for 1 bicycle. C) 1 computer for 1 bicycle. D) 8 bicycles for 1 computer.
Economics
An economy's income is the same as its expenditure because every transaction has a buyer and a seller
a. True b. False Indicate whether the statement is true or false
Economics