Wealth is a means for obtaining material gains in human life. Wealth is of no meaning if it cannot give any material benefits to humankind. These two statements demonstrate ___________. a. Wealth definition of economics b. Welfare definition of economics c. Scarcity definition of economics d. Political economics
Wealth is a means for obtaining material gains in human life. Wealth is of no meaning if it cannot give any material benefits to humankind. These two statements demonstrate ___________. a. Wealth definition of economics b. Welfare definition of economics c. Scarcity definition of economics d. Political economics
Chapter2: Productions Possibilities, Opportunity Costs, And Economic Growth
Section: Chapter Questions
Problem 18SQ
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Question
Wealth is a means for obtaining material gains in human life. Wealth is of no meaning if it cannot give any material benefits to humankind. These two statements demonstrate ___________.
a.
Wealth definition of economics
b.
Welfare definition of economics
c.
Scarcity definition of economics
d.
Political economics
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