How Is Scarcity Related to Competition

question 68

Multiple Choice

How is scarcity related to competition?

• A) Competition is an effect of scarcity.
• B) Scarcity is an effect of competition.
• C) Both scarcity and competition are effects of a rationing device.
• D) Both scarcity and competition are effects of opportunity cost.
• E) Scarcity produces disutility and competition produces utility.

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Characterized by the use of physical force to inflict harm or damage to individuals or property.

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The act of making spontaneous sounds and movements of the face and body that are expressions of amusement or joy.

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The specific genres, artists, or types of music that an individual enjoys and chooses to listen to.

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A term referring to another or distinct institution of higher learning than the one currently being discussed or considered.