Goods and services are scarce because
a. people are greedy
b. they are produced using scarce resources
c. firms keep production low in order to earn higher profits
d. they are produced by firms that seeks profits
e. government wants to maintain its power over the economy
B
Economics
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The above figure shows the cost curves for a perfectly competitive firm. If all firms in the market have the same cost curves and the price equals $16 per unit
A) the market is in its long-run equilibrium. B) over time, firms will leave this market. C) the firm is making zero economic profit. D) over time, the price will fall as new firms enter the market.
Economics
As a source of funds for nonfinancial businesses, stocks are relatively more important in
A) the United States. B) Germany. C) Japan. D) Canada.
Economics