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The BASIC economic problem facing everyone is -
scarcity
Her opportunity cost
Price
Price
the demand is high and the supply is low
that there isn't enough
incentives
True
Carmen had to choose between a DVD player and a new video game. She decided to buy the video game. What was the DVD player?
scarcity
Her opportunity cost
Price
Price
the demand is high and the supply is low
that there isn't enough
incentives
True
What is one factor that determines if a person will purchase and consume a product?
scarcity
Her opportunity cost
Price
Price
the demand is high and the supply is low
that there isn't enough
incentives
True
True/False: There is no such things as a free lunch means that everything has a cost.
scarcity
Her opportunity cost
Price
Price
the demand is high and the supply is low
that there isn't enough
incentives
True
What determines who will acquire goods and services?
scarcity
Her opportunity cost
Price
Price
the demand is high and the supply is low
that there isn't enough
incentives
True
The price of a product will increase if -
scarcity
Her opportunity cost
Price
Price
the demand is high and the supply is low
that there isn't enough
incentives
True
The inability to satisfy all the wants at the same time is called -
scarcity
Her opportunity cost
Price
Price
the demand is high and the supply is low
that there isn't enough
incentives
True
Free financing, tax credits, and buy one, get on free are examples of -
scarcity
Her opportunity cost
Price
Price
the demand is high and the supply is low
that there isn't enough
incentives
True
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