Scarcity:
a. ensures that people become satisfied with less than what they want.
b. exists only during a recession.
c. exists only in some countries.
d. affects only poor people.
e. requires people to make choices to satisfy their wants.
e
Economics
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Assume that a doctor makes $200 per hour, a lawyer $250 per hour, an architect $140 per hour, a professor $50 per hour, and a waiter $35 per hour. Which of these professionals is most likely to spend time to negotiate with a car dealer?
a. The doctor b. The lawyer c. The architect d. The professor e. The waiter
Economics
Economic growth policies always involve
a. trade-offs b. lower taxes c. higher government spending d. more investment e. more transfer payments
Economics