Scarcity Means That

question 190

Multiple Choice

Scarcity means that

• A)what we can produce with our resources is greater than our material wants.
• B)choices made in self-interest cannot be the same as those made in the social interest.
• C)wants are greater than what we can produce with our resources.
• D)governments must make up for shortages in resources.
• E)resources are unlimited.

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Definitions:

Uniform Procedures

Standardized methods or processes that are consistently applied in various situations to ensure fairness, efficiency, or quality.

National Character

A set of personality traits and cultural norms thought to be prevalent among citizens of a particular nation.

Five-factor Model

A comprehensive framework for understanding personality, comprised of five broad dimensions: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Stereotypes

Widely held but fixed and oversimplified images or ideas of a particular type of person or thing.