Solved

The Idea That Resources Are Scarce but Wants Are Unlimited

Question 51

Multiple Choice

The idea that resources are scarce but wants are unlimited is known as

A) marginal cost
B) opportunity cost
C) sunk cost
D) resource cost
E) production cost

Related Questions

Q46: Exhibit 2-11 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 2-11

Q47: In one week, Mohammed can knit 5

Q48: John takes 10 minutes to iron a

Q49: The opportunity cost of going to college

Q50: The production possibilities frontier represents the boundary

Q52: Attending college can be viewed as a

Q53: If dairy farmers use automatic milking machines

Q54: Exhibit 2-7 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 2-7

Q55: Exhibit 2-2 <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB6784/.jpg" alt="Exhibit 2-2

Q56: Division of labor allows people to do