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

---

Definitions:

Grand Larceny

Grand Larceny is a crime involving the theft of property or money exceeding a value defined by law, considered a serious felony.

Federal Crime

An offense that is made illegal by U.S. federal legislation, and prosecuted by federal authorities.

Federal Law

Legislations passed by the national government of a country that apply to all of its regions and residents.

Jurisdiction

The authority given to a court or legal body to hear and decide cases, determined by geographic area or subject matter.