According to Most Economists, What Is the Fundamental Economic Problem

question 115

Multiple Choice

According to most economists, what is the fundamental economic problem?

• A) unemployment
• B) government intervention into markets
• C) poverty
• D) scarcity

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Definitions:

Health Care Workers

Individuals employed within the healthcare industry, including doctors, nurses, therapists, and other allied health professionals.

Labor Demand

The total amount of workers that employers want to hire at a given wage rate and in a given time period, reflecting the quantity of labor firms need to produce goods and services.

Productive Resource

Resource inputs used in the production of goods and services, such as labor, land, and capital.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to analyze the effect of one variable on another while holding all other relevant factors constant.