Multiple Choice
As resources are scarce,_____.
A) opportunity costs are zero.
B) people must make choices among alternatives.
C) all human wants and desires can be satisfied.
D) resource prices are fixed.
E) commodities are free.
Correct Answer:
Verified
Correct Answer:
Verified
Q14: Unlike a "service, " a "good"<br>A)is desirable<br>B)uses
Q105: Economics is the only social science and
Q106: A fallacy of composition involves assuming that:<br>A)you
Q107: In economics,marginal means:<br>A)incremental.<br>B)unimportant.<br>C)level or size.<br>D)a borderline situation.<br>E)a
Q109: Your best friend buys you lunch on
Q111: You currently subscribe to two magazines and
Q112: To say that people make decisions at
Q113: Rational choice by an individual implies:<br>A)the use
Q114: The basic purpose of economic models is
Q115: Economics:<br>A)studies human behavior when scarcity exists and