TEST BANK MICROECONOMICS 10TH EDITION by Michael Parkin
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Exam (elaborations) TEST BANK MICROECONOMICS 10TH EDITION by Michael Parkin (CHAPTER ONE)
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1 Definition of Economics
1) All economic questions are about
A) how to make money.
B) what to produce.
C) how to cope with scarcity.
D) how to satisfy all our wants.
Answer: C
Topic: Scarcity
Skill: Recognition
Question history: Previous edition, Chapter 1
AACSB: Reflective Thinking
2) All economic questions arise because we
A) want more than we can get.
B) want more than we need.
C) have an abundance of resources.
D) have limited wants that need to be satisfied.
Answer: A
Topi...
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Exam (elaborations) TEST BANK MICROECONOMICS 10TH EDITION by Michael Parkin (CHAPTER ONE)
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1 Definition of Economics 1) All economic questions are about A) how to make money. B) what to produce. C) how to cope with scarcity. D) how to satisfy all our wants. Answer: C Topic: Scarcity Skill: Recognition Question history: Previous edition, Chapter 1 AACSB: Reflective Thinking 2) All economic questions arise because we A) want more than we can get. B) want more than we need. C) have an abundance of resources. D) have limited wants that need to be satisfied. Answer: A Topi...
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