As a consequence of the condition of scarcity:
A. there is never enough of anything.
B. production has to be centrally planned.
C. individuals and communities have to make choices from among alternatives.
D. things that are plentiful have relatively high prices.
Answer: C
Economics
You might also like to view...
Refer to the information above. Given this information, the steady state rate of growth of Y/NA is
A) 0. B) 2%. C) 3%. D) 5%. E) 16%.
Economics
A former union employee states: "We were on strike for two years. I know the eventual wage increase we received will never make up for the wages I lost, but I think the strike was worth it. We forced the company to give in to our demands." Evaluate these comments
Economics