Trade-offs are required because wants are unlimited, and resources are ?

Related Mcqs:

Which of the following activities is most likely to produce an externality?

A. A student eats a hamburger in the student union. B. A student reads a novel for pleasure C. A student sits at home and watches T.V D. A student has a party in her room in the student hall of residence....

Workers in Western Europe enjoy a high standard of living because ?

A. the countries of Western Europe have set high minimum wage rates. B. Unions in Western Europe keep the wage high C. none of these answers. D. The countries of Western Europe have protected their industries from foreign corporation E. Workers in the united states are highly productive...

A demand curve can shift because changing ?

A. incomes B. prices of related goods C. tastes D. all of the above...

Suppose you find Rs 20. If you choose to use the Rs 20 to go to a football match your opportunity cost of going to the game is ?

A. nothing because you found the money. B. Rs20 (because you found the money Rs 20 to buy other things) plus the value of your time spent at the game. C. Rs 20 (because you could have used the Rs 20 to buy other things) plus the value of your time spent at the game … Suppose you find Rs 20. If you choose to use the Rs 20 to go to a football match your opportunity cost of going...

Which of the following products would be least capable of producing an externality ?

A. inoculations against disease B. cigarettes C. food D. education E. stereo equipment...