Which of the Following Statements Best Describes the Economic Concept

question 134

Multiple Choice

Which of the following statements best describes the economic concept of scarcity?

• A)Society is not employing all of its available resources in an efficient manner.
• B)People's wants can never be satisfied by the available resources.
• C)Scarcity afflicts only poor countries.
• D)Too many frivolous goods and services are produced at the expense of socially desirable goods and services.
• E)Production is efficient,but distribution is inefficient.

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Definitions:

High-Risk

High-risk refers to a greater likelihood of experiencing negative consequences or danger, often used in contexts related to health, finance, and activities.

Construct System

A framework in psychology that refers to the collection of concepts and beliefs through which an individual perceives, interprets, and judges the world.

Choice Corollary

A concept in Kelly's personal construct theory which suggests that individuals anticipate future events and make choices based on how these events align with their personal constructs.

Positive Social Relationships

These are interactions with others that provide support, comfort, and mutual benefit, contributing to one's well-being and sense of belonging.