The Problem of Scarcity

question 63

Multiple Choice

The problem of scarcity:

• A)exists because resources are limited relative to wants.
• B)exists because resources are unlimited relative to wants.
• C)is solved by economists using abstract models.
• D)can be eliminated through appropriate government intervention into markets.
• E)does not exist in communist societies.

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Definitions:

Temporal Bone

A bone of the skull, situated at the sides and base of the cranium, involved in the protection of the inner ear.

Temporal Process

A projection on the zygomatic bone that helps form the zygomatic arch, connecting the zygomatic bone to the temporal bone of the skull.

Lumbar

Pertaining to the lower part of the back or the five vertebrae in the lower spine.