Multiple Choice
Which of the following statements are true?
A) Wealthy people face scarcity.
B) As a result of scarcity, individuals must make choices and face trade-offs.
C) It is impossible to satisfy unlimited human wants with limited resources.
D) All of the above are true statements.
Correct Answer:
Verified
Correct Answer:
Verified
Q59: Which of the following is most likely
Q60: Economists use the term "ceteris paribus" to
Q61: Which of the following is a positive
Q62: Economists assume that most people<br>A)act purposefully.<br>B)make decision
Q63: Normative statements are:<br>A)prescriptive, making claims about how
Q65: Which of the following best illustrates the
Q66: Which of the following is most likely
Q67: Economics is a social science that primarily
Q68: Economics can be divided into two main
Q69: Economics is primarily the study of:<br>A)human greed.<br>B)how