Scarcity Refers to the Situation in Which

question 122

Multiple Choice

Scarcity refers to the situation in which

• A)unlimited wants exceed limited resources.
• B)unlimited resources exceed limited wants.
• C)a country's population is larger than its resource base.
• D)a nation's poverty level increases faster than its population.

Recognize the characteristics and importance of emerging markets.

Understand the principles of free trade and its implications on global economic policies.

Analyze the role of technology in globalization and multinational operations.

Understand the impact of globalization on developed and developing markets.

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Definitions:

Ethical Dilemmas

Ethical dilemmas are situations in which there is a choice to be made between two options, neither of which resolves the situation in an ethically acceptable manner.

Cultural Lag

The time between changes in material culture or technology and the resulting changes in the broader culture’s relevant norms, values, meanings, and laws.

LGBTQ Rights

The fight for equal rights and legal protections for individuals identifying as lesbian, gay, bisexual, transgender, queer or questioning, plus other sexual and gender identities.

Don't Ask, Don't Tell

A former policy in the United States military that allowed gay, lesbian, and bisexual personnel to serve as long as they did not openly disclose their sexual orientation.