Goods and Services Are Scarce Because

question 131

Multiple Choice

Goods and services are scarce because:

• A)people are greedy.
• B)they are produced using scarce resources.
• C)firms keep production low in order to earn higher profits.
• D)they are produced by firms that seek profits.
• E)the government wants to maintain its power over the economy.

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Definitions:

Rods

Photoreceptor cells in the retina of the eye that are highly sensitive to light and enable vision in low-light conditions, but do not support color vision.

Cones

Photoreceptor cells in the retina of the eye that are responsible for color vision and function best in relatively bright light.

Color Opponent Processing

A theory in vision science suggesting that the human visual system interprets color by processing signals from cones and rods in an antagonistic manner.

Retinal Bipolar Cells

These are types of neurons found in the retina, performing the role of transmitting signals from photoreceptors (rods and cones) to ganglion cells.