The Logical Implication of the Scarcity Problem Is That

question 105

Multiple Choice

The logical implication of the scarcity problem is that

• A) one will never be satisfied with what one has.
• B) as wealth increases,making trade-offs becomes less necessary.
• C) as wealth decreases,making trade-offs becomes less necessary.
• D) choices must be made.
• E) resources need to be made unlimited.

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Definitions:

Clayton Act

A U.S. antitrust law aimed at promoting competition by prohibiting certain types of anti-competitive practices.

Sherman Act

A foundational antitrust law in the United States aimed at promoting competition by prohibiting monopolies and unfair business practices.

Antitrust Law

A body of laws and regulations aimed at promoting business competition and preventing unfair business practices such as monopolies, cartels, and mergers that limit competition.

Competition

The rivalry among businesses to attract customers, increase sales, and develop innovative products and services.