This topic contains a solution. Click here to go to the answer

Author Question: Which of the following statements is TRUE about scarcity? A) Both rich and poor people face the ... (Read 120 times)

jho37

  • Hero Member
  • *****
  • Posts: 531
Which of the following statements is TRUE about scarcity?
 
  A) Both rich and poor people face the problem of scarcity.
  B) Scarcity exists only when supply is insufficient to meet demand.
  C) Scarcity exists only when a shortage exists.
  D) Scarcity can be eliminated when a country becomes richer.

Question 2

Scarcity refers to
 
  A) a shortage in a good or service.
  B) the ability of society to consume all that it produces.
  C) the inability of society to satisfy all human wants because of limited resources.
  D) the inability of an individual to purchase a good or service due to her limited income.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

welcom1000

  • Sr. Member
  • ****
  • Posts: 298
Answer to Question 1

A

Answer to Question 2

C




jho37

  • Member
  • Posts: 531
Reply 2 on: Jun 29, 2018
Excellent


rleezy04

  • Member
  • Posts: 322
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

About 3% of all pregnant women will give birth to twins, which is an increase in rate of nearly 60% since the early 1980s.

Did you know?

Bacteria have flourished on the earth for over three billion years. They were the first life forms on the planet.

Did you know?

The average older adult in the United States takes five prescription drugs per day. Half of these drugs contain a sedative. Alcohol should therefore be avoided by most senior citizens because of the dangerous interactions between alcohol and sedatives.

Did you know?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

It is difficult to obtain enough calcium without consuming milk or other dairy foods.

For a complete list of videos, visit our video library