Scarcity in Economics means that?

Scarcity in Economics means that?

A. the economy can scarcely produce anything B. human wants are limitless C. the economy has very few resources D. human wants are limited, relative to resources E. resources are limited relative to wants Correct Answer: Option E – resources are limited relative...
Scarcity in Economics means that?

An important feature of a cartel is that?

A. members do not reduce price below the cartel price B. each member has a fixed output above which it is not expected to produce C. a powerful member fixes the price at which others will sell D. membes fix the prices for their products Correct Answer: Option B...

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