The economizing problem is:
A. the need to make choices because economic wants exceed economic means.
B. how to distribute resources equally among all members of society.
C. that people's means often exceed their wants.
D. that people do not know how to rationally allocate resources.
Answer: A
You might also like to view...
What would be the opportunity cost of a child using a coupon for a free ice cream cone?
A. The dollar cost of the cone he or she selected B. The other types of ice cream he or she could have selected C. Zero, because the good was not a durable good D. Zero, because the good was free
The linear stages theory of economic growth fails to recognize that increased investment is
a. both a necessary and a sufficient condition. b. a necessary but not a sufficient condition. c. a sufficient but not a necessary condition. d. neither a necessary nor a sufficient condition.
In the period 1965 through the 1970s, policymakers pursued ________ policies in order to achieve ________
A) expansionary; high employment B) expansionary; low inflation C) contractionary; high employment D) contractionary; low inflation
What is the Nash equilibrium of this one-shot game?
a. Firm A will charge a lower price and firm B will charge a lower price b. Firm A will charge a higher price and firm B will charge a lower price c. Firm A will charge a lower price and firm B will charge a higher price d. Firm A will charge a higher price and firm B will charge a higher price