Multiple Choice
Economic bads are items
A) for which the produced quantity is less than the amount desired at a positive price.
B) for which the desired quantity is less than what nature provides at a zero price.
C) that individuals desire but which receive social disapproval.
D) that receive social approval but which governments dislike.
Correct Answer:
Verified
Correct Answer:
Verified
Q7: Technology<br>A) is constantly changing at every point
Q8: The production possibilities curve for two products
Q9: Refer to the above figure. A farmer
Q10: Opportunity cost exists because of<br>A) poverty.<br>B) scarcity.<br>C)
Q11: Opportunity cost is<br>A) the cost of producing
Q13: Amy goes to college to become a
Q14: An example of an entrepreneur would be<br>A)
Q15: If Maggie can make $80,000 as an
Q16: Which of the following statements is FALSE?<br>A)
Q17: Refer to the above figure. If the