The Economizing Problem Faced by Society Is Essentially One of Deciding

question 292

Multiple Choice

The economizing problem faced by society is essentially one of deciding how to make the best use of

• A) limited economic resources to satisfy limited wants.
• B) unlimited economic resources to satisfy unlimited wants.
• C) unlimited economic resources to satisfy limited wants.
• D) limited economic resources to satisfy unlimited economic wants.

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Definitions:

Age Discrimination

The unfair treatment of individuals in the workplace based on their age, prohibited under various labor laws.

ADEA

The Age Discrimination in Employment Act (ADEA) is a federal law that aims to protect employees and job applicants 40 years of age and older from age-based discrimination in the workplace.

Equal Pay Act

Laws designed to eliminate differences in pay between genders by guaranteeing that both men and women are compensated equally for work of the same value.

Seniority System

An organizational practice where decisions on promotions, layoffs, and other employment actions are made based on the length of an employees’ service.