To Deal with the Problem of Scarcity, Every Society Must

question 20

Multiple Choice

To deal with the problem of scarcity, every society must:

• A) place a limit on human needs and wants.
• B) reduce the quantity of resources that are allocated to production.
• C) distribute income equally among all its citizens.
• D) make choices about what is to be produced, how and for whom.

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Definitions:

Spindle

A rotating axis of a machine, which tools or workpieces attach to for machining purposes.

Magnetic Disk Storage

Magnetic disk storage is a type of data storage that uses magnetic storage to record and retrieve digital information using one or more rotating disks.

Floppy Disk

A magnetic storage medium encased in a square or rectangular plastic shell, used primarily in the late 20th century for storing computer data.

Compiling

The process of converting source code written in a high-level programming language into machine code that can be executed by a computer's processor.