Which of the following statements is FALSE? Economic goods are available in desired quantities at a...
Which of the following statements is FALSE?
| Economic goods are available in desired quantities at a zero price. |
| A good is anything that gives satisfaction or happiness to individuals. |
| Services are intangible goods such as dry cleaning, hospital care, and restaurant meal preparation. |
|
Wants are unlimited and include all material and nonmaterial desires. In every economic system, choices must be made because resources
|
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Which of the following statements is FALSE?
Economic goods are available in desired quantities at a...
Practice exercises 1. (1 point) Which one of the following statements best describes economics: Economics studies...
Practice exercises 1. (1 point) Which one of the following statements best describes economics: Economics studies how individuals, institutions, and society a. use unlimited resources to satisfy unlimited wants. b. use scarce resources to satisfy scarce wants. c. use limited resources to satisfy limited wants. d. make choices in the face of scarce resources that have alternative uses. 2. (1 point) Fill in the blank -deals with firms and individuals, while focuses on highly aggregated markets for the entire economy....
1. Which of the following statements is false Scarcity is the tension between unlimited wants and...
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Economic scarcity exists only when an economy fails to use its resources fully or efficiently. only...
Economic scarcity exists only when an economy fails to use its resources fully or efficiently. only when the price that consumers are willing and able to pay for a good exceeds its cost. when human needs and wants are limited and the economy’s ability to satisfy them is unlimited. when human needs, wants, and desires exceed an economy’s ability to satisfy them given available resources and current technology. only when all goods and resources are physically scarce and current technology...
Please read the article and answer about questions. You and the Law Business and law are...
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Practice exercises 1. (1 point) Which one of the following statements best describes economics: Economics studies how individuals, institutions, and society a. use unlimited resources to satisfy unlimited wants. b. use scarce resources to satisfy scarce wants. c. use limited resources to satisfy limited wants. d. make choices in the face of scarce resources that have alternative uses. 2. (1 point) Fill in the blank -deals with firms and individuals, while focuses on highly aggregated markets for the entire economy....
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