Because of the Concept of Scarcity

question 14

Multiple Choice

Because of the concept of scarcity

• A)choices need to be made
• B)marginal benefits increases
• C)marginal costs decrease
• D)total returns of benefit remains unchanged

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Definitions:

Jealousy

An emotion that arises from perceived threats to a relationship or social status, leading to feelings of insecurity or fear of loss.

Anal Stage

A phase in Freud's psychosexual development theory, occurring from ages 18 months to three years, when a child's focus is on controlling bladder and bowel movements.

Obstinate

Showing stubbornness and refusal to change one's opinion or chosen course of action, despite attempts to persuade one to do so.

Stingy

Describing a person or behavior characterized by an unwillingness to spend money or use resources; being miserly or parsimonious.