Some individuals or families can become completely saturated with a service such as television. This suggests that
a. wants are limited
b. desires for a single commodity can be satisfied but then the focus will switch to other goods and services
c. a highly productive economy may someday be able to satisfy all human desires
d. resources are not truly fixed in supply as we generally assume
e. scarcity does not exist
B
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In one day, Brandon can either plow 10 acres or plant 20 acres. In one day, Christopher can either plow 14 acres or plant 14 acres. Brandon and Christopher can
A) gain from exchange if Brandon specializes in planting and Christopher specializes in plowing. B) gain from exchange if Brandon specializes in plowing and Christopher specializes in planting. C) exchange, but only Brandon will gain from the exchange. D) exchange, but only Christopher will gain from the exchange.
Which of the following activities is most likely to be counted in GDP?
A. Gail buys paper and crayons to donate to poor children in need of school supplies. B. Bud works hard five hours each week to make sure that his lawn always looks nice. C. Fran volunteers at the local veteran's hospital twice a month. D. Stu gave $5 to a homeless man he met in the park.