When Economists Say Scarcity, They Mean

question 78

Multiple Choice

When economists say scarcity, they mean:

• A) there are only a limited number of consumers who would be interested in purchasing goods.
• B) the human desire for goods exceeds the available supply of time, goods and resources.
• C) most people in poorer countries do not have enough goods.
• D) goods are so expensive that only the rich can afford it.

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Definitions:

Same-sex Classrooms

Educational setups where students are grouped based on their gender, typically in an effort to tailor teaching methods and content.

Hazardous Wastes

Materials that are dangerous to human health or the environment, requiring careful handling and disposal to prevent harm.

Precycling

The practice of reducing waste by attempting to avoid bringing into the home or business items which will generate waste.

Sensory Memory

The shortest-term element of memory, it is the ability to retain impressions of sensory information after the original stimuli have ended.