Scarcity is a situation in which
A) people cannot satisfy all their wants.
B) most people can get only bare necessities.
C) people can satisfy all their wants.
D) some people can get all they want and some cannot.
A
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Which of the following entities can diversify risk?
A. Corporations B. Insurance companies C. Individuals D. All of these entities can diversify risk.
A decrease in the price of peanut butter will most likely cause an increase in the demand for ______.
a. orange juice b. margarine c. jelly d. cheese spread
In the above figure, the opportunity cost of moving from point D to point E is
A. 55 guitars. B. 100 guitars. C. 100 ukuleles. D. 75 guitars.
An industry's equilibrium wage rate is established
A) by the industry supply curve for labor alone. B) by the slope of the industry demand curve for labor alone. C) by the Labor Department and based on the cost of living in the area. D) by the intersection of the industry supply and demand curves for labor.