Empirical Evidence Suggests That the Relative Scarcity of Most Resources

question 183

Multiple Choice

Empirical evidence suggests that the relative scarcity of most resources is

• A) declining.
• B) increasing slowly.
• C) increasing rapidly.
• D) largely unchanged over the past four decades.

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Definitions:

Productivity

The efficiency at which individuals, companies, or economies produce goods or services, often measured as the amount of output per unit of input.

Sucker Effect

A phenomenon where individuals reduce their effort in group tasks to avoid feeling like they are being exploited or doing more work than others.

Free Riding

Free riding refers to the behavior of benefiting from the contributions of others in a group or community effort without contributing oneself.

Social Loafing

The phenomenon whereby individuals exert less effort to achieve a goal when they work in a group than when they work alone.