What Does Scarcity Result From

question 37

Multiple Choice

What does scarcity result from?

• A) government decision making
• B) positive economics
• C) wants that exceed the resources necessary to provide them
• D) inappropriate normative judgments

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Definitions:

Tariff

A tax imposed by a government on goods or services imported from other countries, often used to protect domestic industries.

Domestic Producers

Refers to manufacturers and suppliers that create goods and services within a country's borders, contributing to its economy.

Domestic Consumers

Individuals or households within a country that purchase goods and services for personal use, as opposed to businesses or foreign buyers.

Tariff

A tax imposed by a government on imported goods or services to protect domestic industries or generate revenue.