The Economic Problem of Scarcity

question 114

Multiple Choice

The economic problem of scarcity

• A)is unique to a capitalist economy.
• B)requires that choices be made among alternatives.
• C)disappears as technology advances.
• D)affects only less-developed countries.

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Definitions:

Impersonal Institutions

Organizations or structures that operate without regard to individuals' personal feelings or situations, often focusing on procedures, rules, and regulations.

Metacommunication

Communication about communication; the underlying messages or meanings in what is said or done.

Relational Goals

Objectives aimed at establishing or maintaining specific types of relationships with others.

Conflict

A situation where there is a clash of interests, values, or needs between two or more parties.