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Questions and Answers
Which term comes from the Greek words 'OIKOS' and 'NOMOS' and refers to the study of how people live by producing, distributing, and consuming scarce goods and services?
Which term comes from the Greek words 'OIKOS' and 'NOMOS' and refers to the study of how people live by producing, distributing, and consuming scarce goods and services?
- Economy (correct)
- Services
- Scarcity
- Resources
What is the main problem that arises due to the limited resources available to produce goods and services compared to the limitless human wants?
What is the main problem that arises due to the limited resources available to produce goods and services compared to the limitless human wants?
- Economics
- Services
- Scarcity (correct)
- Resources
What are the rules of a household called in economics?
What are the rules of a household called in economics?
- Scarcity
- Economy (correct)
- Services
- Resources
What is the study of how people live by producing, distributing, and consuming scarce goods and services called?
What is the study of how people live by producing, distributing, and consuming scarce goods and services called?
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What is the term used to describe the condition where the resources available to produce goods and services are limited compared to the unlimited human wants?
What is the term used to describe the condition where the resources available to produce goods and services are limited compared to the unlimited human wants?
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