Which of the Following Is Considered by Economists to Be

question 210

Multiple Choice

Which of the following is considered by economists to be the most fundamentally scarce?

• A)Money
• B)Ideas
• C)Needs
• D)Food
• E)Physical resources

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Definitions:

Fraud

Deceptive action intended to result in financial or personal gain or to cause harm to another party.

Mistake

An erroneous belief, at the time a contract is concluded, about certain facts or laws that may affect the contract's validity.

Intoxicated Persons

Individuals whose cognitive and physical abilities are significantly impaired due to the consumption of alcohol or drugs.

Capacity

The legal ability and authority to enter into binding contracts and obligations.