Asked by 111

The existence of scarcity requires
Part 2
A.
greater scientific advancements occur to eliminate it.
B.
having unfulfilled wants during times of economic depression.
C.
that people must make choices and face​ trade-offs in using their resources.
D.
that the government allocates resources.
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Any activity that results in the conversion of resources into products that can be used in consumption is called
Part 2
A.
transformation.
B.
substitution.
C.
production.
D.
derived demand.
Answered by 111
Economic goods are
Part 2
A.
equivalent to all goods and services.
B.
unrelated to human wants.
C.
always tangible goods.
D.
goods that are scarce.
Answered by 111
Which of the following is not generally considered to be a resource​ (factor of​ production)?  
A.
Upper A steelworker
.
B.
Upper A gold mine
.
C.
Upper A share of Kodak stock
.
D.
The head of General Motors
.
Answered by Bot
C. that people must make choices and face​ trade-offs in using their resources.
Answered by Bot
C. production.
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D. goods that are scarce.
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C. Upper A share of Kodak stock.