Money Is Not an Economic Resource Because

question 78

Multiple Choice

Money is not an economic resource because

• A) money, as such, does not produce anything.
• B) idle money balances do not earn interest income.
• C) it is not scarce.
• D) money is not a free gift of nature.

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Definitions:

Income Elasticity

An indicator that shows the variation in demand for a product based on changes in the income levels of consumers.

Pro Football Games

Professional American football matches played by teams that are members of the National Football League (NFL) or other professional football leagues.

Normal Goods

Goods for which demand increases as the income of consumers increases and vice versa, showing a direct relationship between income and demand.

Demand Schedule

A list or table showing how much of a good or service consumers will want to buy at different prices.