Which of the Following Statements Regarding the Basic Economic Problem

question 117

Multiple Choice

Which of the following statements regarding the basic economic problem of scarcity is correct?​

• A)The problem exists only in countries that are not highly industrialized.
• B)The problem is likely to disappear as production increases.
• C)The problem is sure to disappear as technology improves.
• D)The problem will exist as long as resources are available in limited amounts.
• E)The problem will disappear as a person's income falls.

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Definitions:

Amino Acids

Organic compounds serving as the building blocks of proteins, containing both amino and carboxylic acid functional groups.

Tidal Flat

A flat, muddy area of land that is covered and uncovered by the sea at high and low tides, respectively.

Clay Particles

The fine-grained mineral components of clay, usually less than 2 micrometers in size, contributing to its unique properties such as plasticity when wet.

Stromatolites

Layered structures formed by the growth of microorganisms in shallow water, representing some of the oldest fossils, dating back to over 3.5 billion years ago.