When an Economist Talks of Scarcity, the Economist Is Referring

question 461

Multiple Choice

When an economist talks of scarcity, the economist is referring to the

• A) ability of society to employ all of its resources.
• B) ability of society to consume all that it produces.
• C) inability of society to satisfy all human wants because of limited resources.
• D) ability of society to continually make technological breakthroughs and increase production.

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Definitions:

Routing And Scheduling

The process of determining the most efficient routes and schedules for transportation of goods to optimize delivery times and reduce costs.

Load Tendering

The process by which a shipper offers a shipment to a carrier, typically using electronic methods, to transport goods from one place to another.

Status Tracking

The monitoring and recording of the progress or current state of a project, order, or task.

Routing Guides

Documents or tools provided by shippers to carriers and logistics providers outlining instructions and preferences for the shipment of goods, including carrier selection and freight bill payment.