Some Individuals or Families Can Become Completely Saturated with a Service

question 171

Multiple Choice

Some individuals or families can become completely saturated with a service such as television. This suggests that

• A) wants are limited
• B) desires for a single commodity can be satisfied but then the focus will switch to other goods and services
• C) a highly productive economy may someday be able to satisfy all human desires
• D) resources are not truly fixed in supply as we generally assume
• E) scarcity does not exist

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Definitions:

Rational Decisions

Choices made based on logical reasoning and objective analysis of available information and alternatives.

Behavioral Economics

A domain within economics focused on analyzing how elements such as psychology, cognition, emotions, culture, and societal factors impact choices related to the economy.

Biology

The scientific study of life and living organisms.

Physics

The natural science that studies matter, its motion and behavior through space and time, and the related entities of energy and force.