due to the scarcity of resources. a. People cannot satisfy all their wants O b. There is a lack of consumer sovereignty Oc. The marginal benefit from an action always exceeds its marginal cost O d. The marginal cost of an action always exceeds its marginal benefit
due to the scarcity of resources. a. People cannot satisfy all their wants O b. There is a lack of consumer sovereignty Oc. The marginal benefit from an action always exceeds its marginal cost O d. The marginal cost of an action always exceeds its marginal benefit
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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which one seems to be correct? what does scarcity in economics?

Transcribed Image Text:due to the scarcity of resources.
a. People cannot satisfy all their wants
O b. There is a lack of consumer sovereignty
Oc. The marginal benefit from an action always exceeds its
marginal cost
O d. The marginal cost of an action always exceeds its
marginal benefit
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