Economists Are Concerned with an Individual's

question 144

Multiple Choice

Economists are concerned with an individual's

• A)needs because needs represent the most important goods to an individual.
• B)needs because economists define needs to be the goods people need to survive.
• C)wants because, unlike needs, wants lead to shortages in the economy.
• D)wants because the existence of wants leads to scarcity.

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Definitions:

Political Conflict

Disagreement or opposition between political parties or factions, often leading to tension or even violence.

Religious Conflict

Disputes or confrontations caused by differing religious beliefs, doctrines, or practices.

Military Response

The action taken by armed forces in reaction to an external or internal threat, including interventions, peacekeeping missions, and defense measures.

False Expectations

Beliefs or hopes that are based on erroneous assumptions or misinformation, often leading to disappointment.