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Questions and Answers
Economic scarcity is the central problem of economics.
Economic scarcity is the central problem of economics.
True
Unlimited resources eliminate the need for economic decision-making.
Unlimited resources eliminate the need for economic decision-making.
False
Efficient allocation of resources ensures maximum satisfaction of human needs and wants.
Efficient allocation of resources ensures maximum satisfaction of human needs and wants.
True
The concept of scarcity refers to the limited availability of economic resources relative to unlimited demand.
The concept of scarcity refers to the limited availability of economic resources relative to unlimited demand.
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Economically literate citizens understand the economic problems of our nation.
Economically literate citizens understand the economic problems of our nation.
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