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In order for a resource to be considered scarce it must be expensive.
butcher
innovators . . . risk takers
efficient
shortage
False
wise . . . scarce
improved use of land
an unlimited supply of resources
A higher demand for a good or service than what is currently available in the market is the definition of __________.
butcher
innovators . . . risk takers
efficient
shortage
False
wise . . . scarce
improved use of land
an unlimited supply of resources
Economists believe it is important to make __________ decisions about __________ resources.
butcher
innovators . . . risk takers
efficient
shortage
False
wise . . . scarce
improved use of land
an unlimited supply of resources
Improved technology allows workers to be more __________ and productive.
butcher
innovators . . . risk takers
efficient
shortage
False
wise . . . scarce
improved use of land
an unlimited supply of resources
Which one of the following professionals provides goods for society’s consumers?
butcher
innovators . . . risk takers
efficient
shortage
False
wise . . . scarce
improved use of land
an unlimited supply of resources
Entrepreneurs are different from the rest of the labor force because they are __________ and __________.
butcher
innovators . . . risk takers
efficient
shortage
False
wise . . . scarce
improved use of land
an unlimited supply of resources
Which of the following would solve the problem of scarcity in the world and eliminate the need for economics?
butcher
innovators . . . risk takers
efficient
shortage
False
wise . . . scarce
improved use of land
an unlimited supply of resources
Which of the following is an important factor for continued economic growth?
butcher
innovators . . . risk takers
efficient
shortage
False
wise . . . scarce
improved use of land
an unlimited supply of resources
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