Which of the Following Statements Best Describes the Underlying Feature

question 67

Multiple Choice

Which of the following statements best describes the underlying feature in most economic problems?

• A)People have unlimited wants in the face of limited resources.
• B)There are unlimited resources.
• C)Our country is rich; we just don't realize it.
• D)People have limited wants in the face of limited resources.
• E)Governments should never interfere in the workings of a market economy.

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Definitions:

Sensation

The process by which our sensory receptors and nervous system receive and represent stimulus energies from our environment.

Vision

The ability to see; the sense that allows organisms to detect light and perceive the colors, shapes, and depths of their surroundings.

Sensation

Sensation is the process by which sensory receptors and the nervous system receive and interpret stimuli from the environment, such as light, sound, and touch.

Perception

Perception is the process by which organisms interpret and organize sensory information to produce a meaningful experience of the world.