According to Emerson: “Want is a growing giant whom the coat of Have was never large enough to cover.” According to economists, “Want” exceeds “Have” because:

Related Mcqs:

For economists, the word “utility” means:

A. versatility and flexibility B. rationality C. pleasure and satisfaction D. purposefulness...

When economists say that people act rationally in their self interest, they mean that individuals _______?

A. look for and pursue opportunities to increase their utility B. generally disregard the interests of others C. are mainly creatures of habit D. are unpredictable...

According to economists, economic self-interest:

A. is a reality that underlies economic behavior B. has the same meaning as selfishness C. is more characteristic of men than of women D. is usually self-defeating...

When entering a building, Asim diverts his path to go through an open door rather than make the physical effort to open the closed door that is directly in his path. This is an example of:

A. irrational behavior B. a lazy person C. marginal benefit-marginal cost analysis D. programmed learning...

Economies of Scale meaning ?

A. Cost on all products B. Reduced per unit Cost  C. Higher per unit Cost D. None of these...