The Problem of Scarcity Exists

question 97

Multiple Choice

The problem of scarcity exists

• A) only in economies without incentives.
• B) only in economies with incentives.
• C) in all economies.
• D) only when people are unemployed.
• E) now but will be eliminated with economic growth.

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Definitions:

Role Diffusion

Erikson’s term for lack of clarity in one’s life roles (due to failure to develop ego identity).

Instrumental Competence

The ability of an individual to effectively use tools or methods to achieve desired outcomes or solve problems.

Fetal Stage

The final phase of prenatal development, typically taking place from the ninth week of pregnancy until birth, during which significant growth and maturation of the fetus occur.