When we study economics the objective is to learn:     A.   how to allocate unlimited resources to satisfy unlimited wants         B.   how to allocate unlimited resources to satisfy limited uses         C.   how to allocate limited resources to satisfy unlimited wants

Q: Economics studies choices that arise from one fact. What is that fact? A. Our resources are unable…

A: Choices are a result of scarcity in the economy whereby the resources are scarce due to unlimited…

Q: Review the six core principles of economics, from topic 2 this week. People choose All…

A: 6 core principles 1.People choose Because there is scarcity,therefore people have to choose between…

Q: *Make a response,question, or clarification for that opinion

A: The consumer is an individual that buys the products and services from the seller in the market.

Q: Which of the following is a proper example of thinking on the margin?   A. A business owner sells…

A: Thinking on the margin will be a situation where you take the every possible opportunity.

Q: Recent flooding in Australia, have driven up prices for items ranging from coffee beans to beef.…

A: The market supply curve of a commodity can shift as a result of a change in technology, government…

Q: George Bernard Shaw stated, "Economy is the art of making the most of life." Which of the following…

A: Here, it is given that, according to George Bernard Shaw, economy is considered as an art to make…

Q: As depicted in -- -, it is necessary to give up some of one good to gain more of the other good. a)…

A: The question is asking to identify the concept or tool in economics that illustrates the trade-off…

Q: To attract cricket fans back after Covid as well as to cover revenue shortfall, the local cricket…

A: The budget-constrained is the limitation of affordability of purchasing products to satisfy the…