Given That Resources Are Scarce

question 135

Multiple Choice

Given that resources are scarce,

• A)A "free lunch" is possible,but only for a limited number of people.
• B)Opportunity costs are experienced whenever choices are made.
• C)Poor countries must make choices,but rich countries with abundant resources do not have to make choices.
• D)Some choices involve opportunity costs while other choices do not.

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Definitions:

Sample Space

In probability, the set of all possible outcomes or results of a particular experiment or event.

Text Messages

Short electronic messages sent over a cellular network between mobile phones.

Continuous Random Variable

A variable that is capable of assuming any value out of an infinite set within a specified range.

Final Exam

A test given at the end of a course of study to assess a student's mastery of the material.