Author Question: Which of the following statements about economic scarcity is FALSE? A) Scarcity occurs among the ... (Read 118 times)

penza · **on:** Jun 29, 2018

Which of the following statements about economic scarcity is FALSE?

A) Scarcity occurs among the poor and the rich.
B) Scarcity only occurs if there are shortages and people wait in line to buy things.
C) Scarcity results from not having enough resources to produce all the things we want.
D) Scarcity results in the necessity to make choices.

Question 2

In the production of goods and services, trade-offs exist because

A) not all production is efficient.
B) society has only a limited amount of productive resources.
C) buyers and sellers often must negotiate prices.
D) human wants and needs are limited at a particular point in time.