Economists Point Out That Scarcity Confronts

question 403

Multiple Choice

Economists point out that scarcity confronts

• A) the rich but not the poor.
• B) the poor but not the rich.
• C) neither the poor nor the rich.
• D) both the poor and the rich.

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Definitions:

Apologizing

The act of expressing remorse or regret for one’s actions that may have caused harm or inconvenience to others.

Material Culture

The physical objects, resources, and artifacts created, used, or valued by a society, reflecting its social habits and historical developments.

Norms

Social expectations that guide the behavior of individuals within a society.

Values

The principles or standards of behavior that are considered important in life or in a particular culture.