Scarcity

question 76

Multiple Choice

Scarcity

• A) is synonymous with poverty.
• B) is eliminated with greater technology.
• C) is faced by all individuals and societies.
• D) can be eliminated with adequate resources.

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Definitions:

Disaffirmance

The legal right of a minor to void or cancel certain types of contracts or agreements to prevent exploitation or unfairness.

Employment Contract

A formal agreement between an employer and an employee that outlines the terms of employment, including responsibilities, compensation, and conditions of the work relationship.

Implied Ratification

The tacit approval or agreement to the terms of a contract or action not originally authorized, indicated by actions that suggest acceptance.

Age of Majority

The legally defined age at which an individual is considered an adult and capable of making decisions and accepting responsibilities for their actions.