A Consequence of the Economic Problem of Scarcity Is That

question 113

Multiple Choice

A consequence of the economic problem of scarcity is that

• A)Choices have to be made about how resources are used.
• B)There is never too much of any good or service produced.
• C)The production of goods and services must be controlled by the government.
• D)The production possibilities curve is bowed outward.

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Definitions:

Reinforcement Value

The subjective importance or appeal an outcome has for an individual, which can influence the likelihood of the person performing the behavior leading to that outcome.

Verbal Abusiveness

The use of words to cause harm to a person, including insults, criticisms, or threats, often resulting in psychological pain and distress.

Locus of Control

A psychological concept that refers to how strongly people believe they have control over the situations and experiences that affect their lives.

Self-Efficacy

An individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments.