All Economic Questions and Problems Arise from

question 163

Multiple Choice

All economic questions and problems arise from

• A) the fact that society has more than it needs.
• B) turmoil in the stock market.
• C) the unequal distribution of income.
• D) a society's wants exceeding what its scarce resources can produce.
• E) the difference between self-interest and social interest.

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Definitions:

Interference Competition

A direct form of competition where organisms physically prevent their rivals from accessing resources.

Exploitative Competition

A form of competition where organisms indirectly interact with each other by consuming scarce resources.

Scavenging

The act of consuming dead or decaying organic matter, a process carried out by certain animals, fungi, and microorganisms, which helps recycle nutrients in ecosystems.

Resource

Any physical or virtual entity of limited availability that needs to be consumed to obtain a benefit from it, often considered in the context of natural resources or economic assets.