If All the World's Resources Were to Magically Increase One

question 73

Multiple Choice

If all the world's resources were to magically increase one hundredfold, then:

• A)people would still have to make trade-offs.
• B)economics would no longer be relevant.
• C)scarcity would disappear.
• D)trade-offs would become unnecessary.

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Definitions:

FIRO-B Theory

A psychological theory that explains how interpersonal relations are determined by individual needs for inclusion, control, and affection.

Compatible Needs

The concept in social psychology that suggests people are drawn together based on similar needs and goals.

Diversity-Consensus Dilemma

Refers to the challenge organizations face in achieving consensus and cohesive action while also promoting and benefiting from a diverse workforce.

Relative Rank

The position or level of something or someone in relation to others based on a specific criterion or set of criteria.