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Author Question: Which of the following statements regarding the basic economic problem of scarcity is correct? a. ... (Read 57 times)

piesebel

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on: Jul 1, 2018
Which of the following statements regarding the basic economic problem of scarcity is correct?
 a. The problem only exists in countries that are not highly industrialized.
  b. The problem is likely to disappear as production increases.
  c. The problem is sure to disappear as technology improves.
  d. The problem will exist as long as resources are available in limited amounts.
  e. The problem will disappear as a person's income falls.

Question 2

Because people's wants are unlimited but resources are scarce,
 a. only the rich get everything they want
  b. choices must be made
  c. there will be more services produced than goods
  d. people search for spiritual fulfillment rather than material fulfillment
  e. poor people never get anything they want


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mcarey591

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

B


piesebel

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

smrtceo

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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