What is the economy experiencing when a society cannot produce all the goods and services people wish to have?
a. scarcity
b. externalities
c. market failure
d. communism
Ans: a. scarcity
Business
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What distinguishes a democracy from a parliamentary democracy?
What will be an ideal response?
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A major problem associated with the sole proprietorship form of retail organization may be _____
a. management succession b. unionization c. double taxation d. duality of objectives between management and ownership
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