The Scarcity Problem Indicates That

question 24

Multiple Choice

The scarcity problem indicates that

• A) no matter how much one has,it is never enough.
• B) compared to 100 years ago,individuals have less time today.
• C) with limited resources,having more of "this" means having less of "that."
• D) because trade-offs must be made,resources are therefore scarce.
• E) the wealthier a person is,the fewer trade-offs he must makE.

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Definitions:

Population

The entire group of individuals or instances about whom the study is focused, from which a sample may be drawn for analysis.

Census

A comprehensive collection and analysis of data about every member of a population at a specific point in time.

Sample

A subset of a population selected for measurement, observation, or questioning to provide statistical information about the population.

Postal Sampling Frames

The process of using postal addresses as a source or list from which to draw samples for research studies.