in economics, decisions are necessary because are scarce, while . are practically unlimited. (A) cooperative efforts; selfish activities B producers; consumers luxuries; necessities D opportunities; costs (E) resources; wants and needs
in economics, decisions are necessary because are scarce, while . are practically unlimited. (A) cooperative efforts; selfish activities B producers; consumers luxuries; necessities D opportunities; costs (E) resources; wants and needs
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 1P
Related questions
Question
![In economics, decisions are necessary because
are scarce, while
are practically
unlimited.
A cooperative efforts; selfish activities
B producers; consumers
c) luxuries; necessities
D opportunities; costs
E) resources; wants and needs](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fbc1576e9-c849-48ce-8450-6aba7a1020f2%2F4bdc4878-eebc-4beb-a93e-bccae3768149%2Faoiyb6k_processed.png&w=3840&q=75)
Transcribed Image Text:In economics, decisions are necessary because
are scarce, while
are practically
unlimited.
A cooperative efforts; selfish activities
B producers; consumers
c) luxuries; necessities
D opportunities; costs
E) resources; wants and needs
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 3 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
![Exploring Economics](https://www.bartleby.com/isbn_cover_images/9781544336329/9781544336329_smallCoverImage.jpg)
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![Exploring Economics](https://www.bartleby.com/isbn_cover_images/9781544336329/9781544336329_smallCoverImage.jpg)
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax