Multiple Choice
Which of the following statements best describes the underlying feature in most economic problems?
A) Governments should never interfere in the workings of a market economy.
B) People have unlimited wants in the face of limited resources.
C) People have limited wants in the face of limited resources.
D) There are unlimited resources.
E) Our country is rich; we just don't realize it.
Correct Answer:
Verified
Correct Answer:
Verified
Q49: Scarcity is likely to be<br>A)a problem that
Q50: It has been observed that university enrollment
Q51: In practice, the term "centrally planned economy"
Q52: The concept of scarcity in economics usually
Q53: The barter system of exchange is inefficient
Q56: In command economies, economic behaviour is<br>A)largely affected
Q57: Karl Marx argued that<br>A)centrally planned economies could
Q58: Suppose Andrea has a job that pays
Q59: A barter system of exchange<br>A)requires the use
Q65: In a pure market economy,the role of