Because Human Wants Are Insatiable and Unlimited While Available Resources

question 139

Multiple Choice

Because human wants are insatiable and unlimited while available resources are limited,people are said to face the problem of

• A)why to produce.
• B)scarcity.
• C)macroeconomics.
• D)social interest versus self-interest.
• E)microeconomics.

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Definitions:

Productive

refers to the ability to produce goods or services efficiently, especially in terms of output per unit of input.

Wages

Payments made to employees for their labor, typically calculated on an hourly, daily, or piecework basis.

Parts Produced

The number of units manufactured or completed in a given period.

Intel's Arizona Plant

reflects Intel Corporation's significant semiconductor manufacturing facility located in the state of Arizona, known for producing a wide range of electronic components.