Which of the Following Statements About Scarcity Is the Most

question 274

Multiple Choice

Which of the following statements about scarcity is the most accurate?

• A) It is a problem in both communist and socialist countries, but not in market economies.
• B) It will never be eradicated because humans develop new wants as productive capabilities improve.
• C) It is a problem only in communist countries.
• D) It does not exist in wealthy countries.

Evaluate the effectiveness of industry codes of ethics based on leadership commitment to enforcement.

Assess the process of making ethical decisions, incorporating reflection on outcomes and considering stakeholder impacts.

Understand the concepts of motivation, including its key characteristics such as activation, persistence, and intensity.

Recognize the historical and contemporary theories of motivation, including but not limited to instinct, drive, incentive, arousal, and humanistic theories.

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Definitions:

Physical Capital

The stock of tangible assets, like machinery, buildings, and vehicles, used in the production of goods and services.

Labor Productivity

An economic indicator that assesses how many goods and services are produced in comparison to the total hours worked to produce them.

Total Employment

The total number of individuals currently employed in the economy, both full-time and part-time.

Annual Growth

The increase in the value of an economy's goods and services over a one-year period, typically expressed as a percentage.