When a Society Cannot Produce All the Goods and Services

question 225

Multiple Choice

When a society cannot produce all the goods and services people wish to have, it is said that the economy is experiencing

• A) scarcity.
• B) shortages.
• C) inefficiencies.
• D) inequities.

---

Definitions:

Business Income

Revenue received from the sale of goods or services related to the day-to-day operations of a business.

Immigration

The action of moving to a foreign country to live permanently.

Pre-migration

The period before migration that involves preparation and decision-making processes by potential migrants.

Brain Drain

The migration of skilled professionals from one country to another, often for better career opportunities or living conditions.