Answer
A. Resources would have to be unlimited
The requirement of choices arises as resources are limited , this brings out the problem of scarcity.
Thus a consumer has to make a choice with constraints of limited resources.
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4. Economics 1A Jan2020 In order to eliminate the need for making a choice... Select one:...
Practice exercises 1. (1 point) Which one of the following statements best describes economics: Economics studies how individuals, institutions, and society a. use unlimited resources to satisfy unlimited wants. b. use scarce resources to satisfy scarce wants. c. use limited resources to satisfy limited wants. d. make choices in the face of scarce resources that have alternative uses. 2. (1 point) Fill in the blank -deals with firms and individuals, while focuses on highly aggregated markets for the entire economy....
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(e) All the above. 8. Scarcity is (a) about limited resources (b) about too many needs (c) about limited resources and unlimited needs (d) about resources hard to find (e) None of the above 10. Opportunity cost is the cost of choice the value of the next best alternative when economic resources are fully utilized the cost of missing opportunities the cost of making a product a, b, and c
1. Economics can best be defined as the study of how a. Society decides to use its scarce resources in an attempt to satisfy unlimited wants b. The government should deal with the problems of unemployment and inflation C. To make money in the stock market d. The government should eliminate the problem of scarce resources 2. What you give up to obtain an item is called your a. True cost b. explicit cost c. opportunity cost d. direct cost...
economics make assumptions when building models
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answer only The sugar found in nucleotides of RNA is: Select one: a. xylose b. deoxyribose c. ribose d. lactose e. none of the above If alleles for human blood types A and B are dominant to the allele which determines type O blood, what is the outcome of the following cross: type O male crossed with type O female. Note that the allele for type O blood is recessive. Select one: a. all offspring would have type "A" blood...
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