Multiple Choice
Scarcity is likely to be
A) a problem that will always exist.
B) a problem that will be solved by the proper use of available resources.
C) eliminated with a better understanding of economics.
D) a result of the work ethic.
E) unique to the twentieth century.
Correct Answer:

Verified
Correct Answer:
Verified
Q44: With regard to various economic systems, most
Q45: Specialization and trade<br>A)developed only where government and
Q46: In traditional economies, economic behaviour is<br>A)based primarily
Q47: Economics can best be described as<br>A)the application
Q48: In the circular flow of income, the
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
Q54: Which of the following statements best describes