Which of the following best describes scarce resources?
A) Resources that most people cannot afford to buy
B) Resources that can only be distributed efficiently by the government
C) Resources for which the quantity demanded is the same for all economic agents
D) Resources for which the quantity that people want exceeds the quantity that is freely available
Question 2
If the marginal benefit of a good exceeds its marginal cost
A) we've achieved efficient resource use.
B) we should produce more to achieve the allocatively efficient use of resources.
C) we should produce less to achieve the allocatively efficient use of resources.
D) we cannot tell if more or less should be produced to achieve the allocatively efficient use of resources.
Many Natural Resources Can Be Sustained
Homeless people sleeping on the streets is a common sight in India’s cities. I took this photo in ...
Demographic change and the effect on people social, and economic life
People with binge eating disorder often eat in secret
Resources from Rocks and Minerals
People with normal color vision see the number 29 in the chart; however, those who are color-blind c