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Questions and Answers
Which of the following resources are included in the study of economics?
Which of the following resources are included in the study of economics?
- Labor and technology
- Labor and capital (correct)
- Labor and land
- Labor and natural resources
What is the main focus of economics?
What is the main focus of economics?
- Allocation of scarce resources (correct)
- Management of technology
- Utilization of natural resources
- Development of intellectual property
Which of the following is NOT a resource included in the study of economics?
Which of the following is NOT a resource included in the study of economics?
- Technology
- Labor
- Intellectual property (correct)
- Capital
Which of the following conditions would classify a resource as scarce?
Which of the following conditions would classify a resource as scarce?
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What is the relationship between scarcity and choices?
What is the relationship between scarcity and choices?
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Which of the following situations does not classify a resource as scarce?
Which of the following situations does not classify a resource as scarce?
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