Which of the Following Statements Regarding the Basic Economic Problem

question 122

Multiple Choice

Which of the following statements regarding the basic economic problem of scarcity is correct?

• A)The problem only exists in countries that are not highly industrialized.
• B)The problem is likely to disappear as production increases.
• C)The problem is sure to disappear as technology improves.
• D)The problem will exist as long as resources are available in limited amounts.
• E)The problem will disappear as a person's income falls.

---

Definitions:

Planning

The process of making detailed strategies and arrangements for achieving specific goals or completing tasks.

Stakeholder Model

A framework used in business that identifies and addresses the interests and concerns of individuals and groups affected by the organization's actions.

Social Responsibility

The obligation of individuals and organizations to act in ways that benefit society at large, beyond their own interests or profits.

Obstructionist Strategy

A corporate social responsibility strategy that tries to avoid and resist pressures for social responsibility.