If Scarcity Was Eliminated

question 162

Multiple Choice

If scarcity was eliminated

• A) trade would become unnecessary.
• B) opportunity costs would increase.
• C) all nations would have an absolute advantage in producing all products.
• D) the concept of trade-offs would become irrelevant.

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Definitions:

Lawsuits

Legal actions or proceedings brought by one party against another in a court of law.

Industrial Accidents

Unplanned incidents that occur in the course of work, leading to physical harm or damage.

Lost Workdays

Days of work missed by employees due to illness, injury, or other reasons, impacting productivity.

Relatively Low Stress

A condition of experiencing lesser degrees of stress or tension compared to a higher baseline or expectation.