Because of scarcity: Select one: a. all choices about wants and using resources must be made by the government. b. choices can be made about which wants to satisfy, but not about which resources to use. c. individuals and societies must prioritize which wants and needs are most important to satisfy. d. individuals and societies are allowed no choice about which wants and needs to satisfy.
Because of scarcity: Select one: a. all choices about wants and using resources must be made by the government. b. choices can be made about which wants to satisfy, but not about which resources to use. c. individuals and societies must prioritize which wants and needs are most important to satisfy. d. individuals and societies are allowed no choice about which wants and needs to satisfy.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
Because of scarcity:
Select one:
a.
all choices about wants and using resources must be made by the government.
b.
choices can be made about which wants to satisfy, but not about which resources to use.
c.
individuals and societies must prioritize which wants and needs are most important to satisfy.
d.
individuals and societies are allowed no choice about which wants and needs to satisfy.
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