Scarcity Arises from Limited Resources

question 98

Multiple Choice

Scarcity arises from limited resources.For this reason,all economic choices involve

• A)greed.
• B)an opportunity cost.
• C)complementary ends.
• D)pride.
• E)a value judgement.

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Definitions:

Ciliary Body

A structure in the eye composed of the ciliary muscle and ciliary processes, involved in controlling the shape of the lens for focusing and secreting aqueous humor.

Optic Nerve

A cranial nerve that transmits visual information from the retina to the brain for visual perception.

Pupil

The pupil is the opening in the center of the iris of the eye, through which light enters the eye and is focused on the retina.

Iris

The colored part of the eye surrounding the pupil, responsible for controlling the diameter and size of the pupil.