The Degree to Which People Have Access to Goods and Services

question 80

Multiple Choice

The degree to which people have access to goods and services that make their lives easier, healthier, safer, and more enjoyable is called the:

• A)microeconomic standard.
• B)global standard.
• C)scarcity standard.
• D)standard of living.

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Definitions:

Chemical Equation

A symbolic representation of a chemical reaction, showing the reactants and products with their respective quantities.

Magnesium Oxide

A white hygroscopic solid mineral used as an antacid and mild laxative, and in numerous industrial applications.

Balanced Chemical Equation

An equation that represents a chemical reaction with equal numbers of atoms for each element in both reactants and products.

Reduction

A chemical process involving the gain of electrons or the decrease in oxidation state by a molecule, atom, or ion.