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.
Work Settings for People Earning Master’s and Bachelor’s Degrees in Psychology
In middle childhood, children are increasingly able to understand other people’s thoughts, ...
Older people who experienced stressful events in their younger years may show personal growth and ...
Of four outcomes people can have after exposure to trauma, the most prevalent is resilience. Others, ...
Marketing: Real People, Real Choices
Survivorship curves for people in the United States in the early 20th and early 21st centuries