Because of Scarcity

question 239

Multiple Choice

Because of scarcity,

• A) ​it is impossible to satisfy every desire and choices must be made.
• B) ​the available supply of time, goods, and resources is greater than human wants.
• C) ​every desire is fulfilled.
• D) ​there are no limits on the economy's ability to satisfy unlimited wants.

Explain the importance and influence of possible selves on motivation.

Describe and differentiate between major personality theories (psychoanalytic, humanistic, social-cognitive, and trait theories).

Recognize the relationships between self-esteem, narcissism, and behavior.

Analyze the influence of self-serving bias on personal attributions and behavior.

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Definitions:

Exchange-rate System

The method by which a country manages its currency in relation to other currencies and determines its exchange rate.

Flexible System

An adaptable framework or methodology that can adjust to changes in environment or operation, often seen in production, management, or scheduling.

Major Currencies

The world's most widely traded currencies, typically including the US Dollar, Euro, Japanese Yen, and British Pound among others.

Managed Floating Exchange Rate

An exchange rate that is allowed to change (float) as a result of changes in currency supply and demand but at times is altered (managed) by governments via their buying and selling of particular currencies.