Scarcity
A) exists in all human societies.
B) is a problem for less-developed nations only.
C) used to be a problem, but is not an issue for modern industrial nations.
D) afflicts greedy people only.
Answer: A
You might also like to view...
Screening is an action taken by an uninformed party to induce an informed party to reveal information
a. True b. False Indicate whether the statement is true or false
Income elasticity of demand for a good has been calculated as - 4.0, therefore the good is:
(a) A substitute good. (b) A necessity. (c) A complementary good. (d) An inferior good.
The following graph is the production possibility curve for a three-person economy, with workers Janna, Drew, and Karl.
The slope of the PPC between points Y and Z is determined by ________ opportunity cost.
A. Kari's B. Janna and Drew's C. Drew's D. Janna's
Economic takeoff:
A. occurs when development becomes self-sustaining. B. will eventually occur in all developing countries. C. typically occurs in the absence of foreign investment. D. has yet to occur in any developing country.