Which of the Following Sets of Terms Describes the Problem

question 92

Multiple Choice

Which of the following sets of terms describes the problem of scarcity in economics?

• A) Goods, land, and needs
• B) Labor, needs, and opportunity costs
• C) Choices, opportunity costs, and trade-offs
• D) Production, consumption, and wants

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Definitions:

Selfish Herd

A behavioral strategy seen in animals where individuals try to reduce their predation risk by moving to the center of a group, thus using others as a shield.

Predators

Organisms that hunt, kill, and consume other organisms for food.

Cluster

A collection of similar items or events grouped together, often for analysis or understanding patterns.

Genetically Determined

Attributes or traits that are influenced by genes inherited from an organism's parents, determining characteristics such as eye color, blood type, and susceptibility to certain diseases.