Because Resources Are Scarce,economists Would Say That

question 344

Multiple Choice

Because resources are scarce,economists would say that

• A) the best things in life are always free.
• B) people's wants are unlimited.
• C) every choice has an opportunity cost.
• D) anything worth doing is worth doing well.
• E) there are no benefits from cooperation.

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Definitions:

Socioeconomic Status

Refers to an individual's or family's economic and social position in relation to others, based on income, education, and occupation.

Maturational Needs

The requirements essential for the natural progression and development of individuals, often related to physical or psychological growth.

Generativity

A stage of psychosocial development in which individuals focus on guiding the next generation or contributing to the well-being of younger people.

Stagnation

A period or state of little or no growth or activity.