Which of the Following Sets of Terms Describes the Problem

question 231

Multiple Choice

Which of the following sets of terms describes the problem of scarcity in economics?

• A) goods, land, and needs
• B) labor, needs, and opportunity costs
• C) choices, opportunity costs, and trade-offs
• D) production, consumption, and wants

---

Definitions:

Taxing Power

The legal authority granted to governmental entities to impose taxes on individuals and organizations to raise revenue for public purposes.

Statutes Unconstitutional

Laws deemed to violate or not conform to the established constitution of the land.

Power Struggles

Power struggles refer to conflicts or competitions between individuals or groups for dominance, control, or influence within an organization or social setting.

Representative Body

An entity or group of individuals elected or appointed to act on behalf of a larger group, typically in decision-making processes.