Micro Economics For Today
Micro Economics For Today
10th Edition
ISBN: 9781337613064
Author: Tucker, Irvin B.
Publisher: Cengage,
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Chapter 1, Problem 11SQ
To determine

Implication of the scarcity.

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Identify the scarcity definition of economics from the following. a. the distribution of surplus goods to those in need. b. None of these c. ways to reduce wants to remove the problem of scarcity. d. the choices we make because of shortage of resources.
Which of the following is related to the use of economics? a. how people use unlimited resources to satisfy their unlimited wants b. how people use unlimited resources to satisfy limited wants c. how people use scarce resources to satisfy unlimited wants d. how businesses use unlimited resources to satisfy unlimited consumer wants
Economists use the phrase ceteris paribus to express the assumption Select one: a. "all else equal." b. "everything affects everything else." C. "there is no such thing as a free lunch." d. "scarcity is a fact of life."
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