Scarcity

question 68

Multiple Choice

Scarcity:

• A) exists because resources are unlimited while human wants are limited.
• B) means we are unable to have as many goods and services or as much time for activities as we would like to have.
• C) will likely be eliminated as technology continues to expand.
• D) is not an issue addressed in economics.

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Definitions:

Temporal Lobe

A region of the cerebral cortex responsible for processing auditory information and encoding memories.

Travels

The act of moving or journeying from one place to another for purposes such as exploration, recreation, or business.

Olfactory Receptor Cells

Specialized neurons in the nasal cavity responsible for detecting odors and sending information to the brain.

Thalamus

A major relay station in the brain that processes and directs sensory information to appropriate areas of the cortex.