Author Question: A good or service is considered scarce if a. any quantity of it can be consumed at a zero price b. ... (Read 74 times)

skymedlock · **on:** Jul 1, 2018

A good or service is considered scarce if
a. any quantity of it can be consumed at a zero price
b. the amount people desire exceeds the amount available at a zero price
c. the amount people desire exceeds the amount available at any price
d. the amount people desire is less than the amount available at any price
e. the amount people desire is less than the amount available at a zero price

Question 2

The expression There's no such thing as a free lunch means
a. that even if the lunch is free, we pay for it in extra calories
b. that resources used up in producing the lunch are not available to satisfy other wants
c. the same thing as The best things in life are free
d. you can eat only if you work first
e. neither sea water nor air is free