When Economists Speak of Scarcity,they Are Referring to the

question 36

Multiple Choice

When economists speak of scarcity,they are referring to the

• A) condition in which society is not employing all its resources in an efficient way.
• B) condition in which people's wants outstrip the limited resources available to satisfy those wants.
• C) economic condition that exists in only very poor countries of the world.
• D) condition in which society produces too many frivolous goods and not enough socially desirable goods.

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Definitions:

Normal Distribution

A distribution of probability centered around its mean, highlighting that occurrences close to the mean happen more often than those far from it.

Semi-strong Form Efficiency

A form of market efficiency that posits all publicly available information is fully reflected in stock prices, including historical financial data and current news.

Stock Price

Stock Price is the current price at which a share of stock is trading on the market, influenced by various factors including company performance, investor sentiment, and market conditions.

Trading Day

A day on which stock markets are open for trading.