This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Economics is the study of the allocation of scarce resources and scarce time, and the ways in which ... (Read 140 times)

humphriesbr@me.com

  • Hero Member
  • *****
  • Posts: 550
on: Jun 30, 2018
Economics is the study of the allocation of scarce resources and scarce time, and the ways in which people utilize those resources or that time.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The ability to produce at a lower opportunity cost than someone else is referred to as:
 a. absolute advantage.
 b. comparative advantage.
 c. absolute superiority.
 d. competitive disadvantage.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

dawsa925

  • Sr. Member
  • ****
  • Posts: 326
Reply #1 on: Jun 30, 2018
Answer to Question 1

True

Answer to Question 2

b


humphriesbr@me.com

  • Member
  • Posts: 550
Reply 2 on: Jun 30, 2018
Wow, this really help

ttt030911

  • Member
  • Posts: 315
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Though the United States has largely rejected the metric system, it is used for currency, as in 100 pennies = 1 dollar. Previously, the British currency system was used, with measurements such as 12 pence to the shilling, and 20 shillings to the pound.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

The first oral chemotherapy drug for colon cancer was approved by FDA in 2001.

Did you know?

Methicillin-resistant Staphylococcus aureus or MRSA was discovered in 1961 in the United Kingdom. It if often referred to as a superbug. MRSA infections cause more deaths in the United States every year than AIDS.

Methicilli ...
Did you know?

Hippocrates noted that blood separates into four differently colored liquids when removed from the body and examined: a pure red liquid mixed with white liquid material with a yellow-colored froth at the top and a black substance that settles underneath; he named these the four humors (for blood, phlegm, yellow bile, and black bile).

Gaser and Schlaug's study of the size of visual, motor, and auditory nuclei in the brains of mu Gaser and Schlaug's study of the size of visual, motor, and auditory nuclei in the brains of mu
Model of a longitudinal study in which 983 students were surveyed in 1984 and then again in 1985, 19 Model of a longitudinal study in which 983 students were surveyed in 1984 and then again in 1985, 19
The areas in which reading-associated increases in activity were observed in the fMRI study of ... The areas in which reading-associated increases in activity were observed in the fMRI study of ...
Disitive Time For Nuts Disitive Time For Nuts
A clock is showing the time as exactly 3:00 p.m. and 25 s. A clock is showing the time as exactly 3:00 p.m. and 25 s.
Results of a genome-wide association study (GWAS) to detect SNPs Results of a genome-wide association study (GWAS) to detect SNPs
Video: New DNA Strand Replication

For a complete list of videos, visit our video library