Multiple Choice
The perpetual state of insufficiency of resources to satisfy people's unlimited wants is
A) apparent only in poor countries
B) a contradiction that cannot be resolved
C) completely unrealistic
D) present in modern economies, but not in the past
E) the definition of scarcity
Correct Answer:

Verified
Correct Answer:
Verified
Q71: "Unemployment will decrease because the economy is
Q72: Which of the following is not a
Q73: The finite nature of the economy's resource
Q74: Explain why economists use models to describe
Q75: Land, water, metals, and minerals are considered
Q77: Simplicity and fruitfulness are virtues when it
Q78: Human societies have typically run out of
Q79: Suppose an economist uses an econometric model
Q80: Consumer sovereignty is the freedom to<br>A) start
Q81: An economic forecast will always yield an