The Term "Scarcity" in Economics Can Refer to the Fact

question 30

Multiple Choice

The term "scarcity" in economics can refer to the fact that:

• A) economic wants are limited and resources are abused.
• B) even in the richest country some people go hungry.
• C) no country can produce enough products to satisfy everybody's economic wants.
• D) it is impossible to produce too much of any particular good or service in a market economy.

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Definitions:

Multiple Wave Summation

A phenomenon where muscle fiber contractions increase in strength due to rapid, repeated stimulation before full relaxation occurs.

Tetanus

An infection resulting from the Clostridium tetani bacterium, leading to muscle contractions, known as tetanus.

Stimuli Frequency

The rate at which stimuli are presented over time, affecting the response of sensory systems.

Treppe

Series of successively stronger contractions that occur when a rested muscle fiber receives closely spaced stimuli of the same strength but with a sufficient stimulus interval to allow complete relaxation of the fiber between stimuli.