Scarcity

question 34

Multiple Choice

Scarcity:

• A) is the fundamental principle of economics
• B) applies to tangible goods, but not to intangible goods
• C) does not hold for the major religions of the world
• D) explains why we purchase ipods and trips to Florida

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Definitions:

Alternative Dispute Resolution

Methods of resolving disputes without traditional litigation, including mediation and arbitration.

Optional

A choice or possibility among multiple alternatives that is not mandatory.

Cost-Saving

Cost-saving refers to measures or actions taken to reduce expenses and increase efficiency, thereby saving money.

Alternative Dispute Resolution

A range of dispute resolution methods outside of the judicial process, including mediation and arbitration, aimed at resolving conflicts without going to court.