« previous next »

Author Question: When economists say scarcity, they mean: a. there are only a limited number of consumers who would ... (Read 55 times)

mwit1967

  • Hero Member
  • *****
  • Posts: 501
on: Jun 30, 2018
When economists say scarcity, they mean:
 a. there are only a limited number of consumers who would be interested in purchasing goods.
  b. the human desire for goods exceeds the available supply of time, goods and resources.
  c. most people in poorer countries do not have enough goods.
  d. goods are so expensive that only the rich can afford it.

Question 2

Which of the following illustrates the concept of scarcity?
 a. There is usually more than one use of your free time in the evening.
  b. More clean air is wanted than is available in large polluted metropolitan areas such as Los Angeles.
  c. There are many competing uses for the annual budget of your city, county, or state.
  d. All of the answers are correct.


aham8f

  • Sr. Member
  • ****
  • Posts: 336
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

d


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Stevens-Johnson syndrome and Toxic Epidermal Necrolysis syndrome are life-threatening reactions that can result in death. Complications include permanent blindness, dry-eye syndrome, lung damage, photophobia, asthma, chronic obstructive pulmonary disease, permanent loss of nail beds, scarring of mucous membranes, arthritis, and chronic fatigue syndrome. Many patients' pores scar shut, causing them to retain heat.

Did you know?

To prove that stomach ulcers were caused by bacteria and not by stress, a researcher consumed an entire laboratory beaker full of bacterial culture. After this, he did indeed develop stomach ulcers, and won the Nobel Prize for his discovery.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

Malaria was not eliminated in the United States until 1951. The term eliminated means that no new cases arise in a country for 3 years.

Men and women work the same number of hours a week, but men spend more time on paid work, and women ... Men and women work the same number of hours a week, but men spend more time on paid work, and women ...
Annual Mean Number of Days with Thunder Annual Mean Number of Days with Thunder
How to write any number in scientific notation How to write any number in scientific notation
Estimated number of new HIV infections per year over time period in Canada Estimated number of new HIV infections per year over time period in Canada
The charge for telephone calls T is partly constant and partly varies with the number N of ... The charge for telephone calls T is partly constant and partly varies with the number N of ...
The effect of disruptive selection on bristle number in Drosophila The effect of disruptive selection on bristle number in Drosophila
Video: Introduction to Genetics

For a complete list of videos, visit our video library