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When economists speak of scarcity, they are referring to the .

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Related textbook solutions

Principles of Economics

2nd Edition, 2017

ISBN: 9781947172364

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Principles of Microeconomics

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Related questions

When economists speak of scarcity, they are referring to the

a. condition in which society is not employing all its resources in an efficient way.

b. condition in which people's needs and wants outstrip the limited resources available to satisfy those needs and wants.

c. economic condition that exit in only very poor countries of the world.

d. condition in which society produces too much of a certain good creating a surplus.

blushcaribou497

What are economists referring to when they say choosing is refusing?

Some economists believe that the market will not solve all problems. They are referring to:

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