Which of the Following Statements Best Describes the Underlying Feature

question 78

Multiple Choice

Which of the following statements best describes the underlying feature of most economic problems?

• A)People have unlimited wants in the face of limited resources.
• B)There are unlimited resources.
• C)Resources are distributed fairly.
• D)People have limited wants in the face of limited resources.
• E)Governments should never interfere in the workings of a market economy.

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Definitions:

Income

The financial gain obtained by an individual or entity, usually derived from work, capital, or land, which is used for consumption or investment.

Productivity

A measure of the efficiency of production, often assessed as the ratio of outputs to inputs in a production process.

Consumer Price Index

A measure that examines the weighted average of prices of a basket of consumer goods and services, often used as an indicator of inflation.

Pretzels

A type of baked bread product made from dough most commonly shaped into a twisted knot.