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.

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Definitions:

Job Embeddedness

The extent to which an employee feels attached to their job and company, influencing their likelihood to stay.

Ethnocentrism

The belief in the inherent superiority of one's own ethnic group or culture, often leading to prejudice and discrimination.

Hierarchical Approach

A structured organizational method where decisions and processes flow from top-level management down through various levels of authority.

Problem-Solving Argument

A method of resolving disagreements or issues through logical reasoning and evidence-based analysis to reach a mutually acceptable solution.