QUESTION 38 38. Which of the following statements referring to economic jargon is TRUE? a "free good" is one which is so abundant that there is enough to satisfy all that people may want of it. "scarcity" arises from assumptions of unlimited human wants and limited resources. a "scarce good" is one for which quantity demanded is less than quantity supplied. all the above are true only (a) and (b) above are true.

QUESTION 38 38. Which of the following statements referring to economic jargon is TRUE? a "free good" is one which is so abundant that there is enough to satisfy all that people may want of it. "scarcity" arises from assumptions of unlimited human wants and limited resources. a "scarce good" is one for which quantity demanded is less than quantity supplied. all the above are true only (a) and (b) above are true.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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