ECONOMICS 501
Texas A&M University
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ECONOMICS 501 - FINAL QUESTIONS AND ANSWERS.
- Exam (elaborations) • 107 pages • 2021
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ECONOMICS 501 - FINAL QUESTIONS AND ANSWERS. / ECONOMICS 501 - FINAL QUESTIONS AND ANSWERS.
Chapter 2 Question 1: What do economists mean by scarcity?
a. Economists mean that unlimited wants exceed limited resources.
b. Economists mean that trade is not possible.
c. Economists mean that people are not employed.
d. Economists mean that production is inefficient.
e. Economists mean that economy is unable to produce increasing quantities of goods and
services
Exam (elaborations)
ECONOMICS 501 - FINAL QUESTIONS AND ANSWERS.
Last document update:
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ECONOMICS 501 - FINAL QUESTIONS AND ANSWERS. / ECONOMICS 501 - FINAL QUESTIONS AND ANSWERS. Chapter 2 Question 1: What do economists mean by scarcity? a. Economists mean that unlimited wants exceed limited resources. b. Economists mean that trade is not possible. c. Economists mean that people are not employed. d. Economists mean that production is inefficient. e. Economists mean that economy is unable to produce increasing quantities of goods and services
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